tv World Business Report BBC News October 2, 2017 5:30am-5:46am BST
this is bbc world news, the headlines: the uk's fifth largest airline — monarch — has gone into administration leaving tens of thousands of holidaymakers stranded abroad. the news was announced by the civil aviation authority after concern about the compa ny‘s finances. regional leaders in catalonia say more than 2 million people — 90% of those who voted in a banned referendum — were in favour of independence from spain. the prime minister, mariano rajoy, has called the poll illegal. canadian police have arrested a somali refugee suspected of stabbing a police officer and injuring four pedestrians in edmonton, alberta. and then attacked him with a knife. two young women accused of using a nerve agent to murder kim jong—nam — the estranged half—brother of north korea's leader — have been taken to the high court in malaysia for the start of their trial. now it's time for world business report.
one of britain's best known holiday flight companies, monarch airlines, has collapsed, with all flights immediately cancelled, leaving over 100,000 uk customers stranded abroad. the catalonian conundrum — when a massive majority of a minority votes for independence, what happens to the driver of spain's economic recovery? welcome to world business report. i'm jamie robertson. in a minute we'll hear from the boss of microsoft, what he's doing top make his company cool again. but first, monarch airlines has been placed into administration and all flights from the uk have been cancelled and will not be rescheduled, accountants kpmg said.
the announcement leaves 300,000 future bookings cancelled. the civil aviation authority has said it had launched a programme to bring 110,000 monarch airlines customers back to the uk. joe lynam has more. this is a very worrying news for the 100,000 or so monarch package holidays passengers. they will be brought home courtesy of the atol protection scheme. what about the bigger airline? there is a risk that customers and supplies will lose faith and confidence in the ability of monarch to pay its bills. there is still time to keep the airline
business going while losing the atol licence. a wider problem is there are too many seats and not enough bums to put on them. by now it looks as though the monarch package business is the latest victim of that. catalonia has voted to become independent from spain in a controversial referendum which was not sanction by the spanish government. according to catalan leaders 90 percent of voters wanted a separation. but it's reported there was only a 40% turnout. the spanish prime minister says the referendum didn't happen, more on that in a moment. as well as a distinct history dating back almost 1,000 years, economic forces have also spurred the desire for independence in the region. it is one of spain's wealthiest regions, making up 16% of the national population and accounting for almost 19% of spanish gdp. but there is a widespread feeling that the central government takes
much more than it gives back. according to 2014 figures, catalonia paid 9.89bn euros more into spain's tax authorities than it received in spending — the equivalent of 5% of its gdp. meanwhile, state investment in catalonia has dropped: in 2003 the national budget allocated roughly 16% of investment to catalonia but by 2015 that had dropped to 9.5%. so if catalonia does actually leave spain it would have a huge impact on one of europe's biggest economies which is currently on track to grow by 3.1% this year. recovering from the recession and the financial crisis. with me is dr pablo calderon martinez, lecturer in spanish politics aston university what happens next? it is a bit of a
mess. it is indeed. i suppose the cattle and government is going to declare independence soon and we will have to see how the spanish government reacts. i do not think they will take it very well but i think negotiation is the only answer. if you are independent are suppose you raise taxes but what is the first thing you do? the proof of it? first of all you have to seek — this is a big issue— seek recognition from other countries. they will struggle to that, certainly in europe and internationally as well. the european union has been very much offering support for the spanish government but obviously condemning the violence but i think they would find it very, very hard to support
any independent catalan state. this will be discussed purely in political terms for the next few weeks but beneath it is an economic story and it is important. it comes out of this huge recession, that spain has been through. to a great extent this is an economic movement, an economic nationalism of sorts. that is not to say that catalan does not have its history and culture but it comes as a reaction of the economic crisis and the financial crisis, this sense of injustice that somehow catalonia pays more to spain. you can put it in the same basket is brexit, and president trump, it is popular reason in a way? —— popular.
trump, it is popular reason in a way? -- popular. in spain it seems more of a political crisis. lack of representation. the solution is political dialogue. will it affect the economic recovery?” political dialogue. will it affect the economic recovery? i think so. it will create uncertainty. spain is relying on investment and i think any more trouble of this sort is going to threaten the recovery in spain and it is not good news for catalonia or spain. for decades, microsoft dominated the tech industry. but since 2000, it's been playing catch up to the likes of apple and google. since he became ceo in 2014, satya nadella has been trying to change the culture of microsoft — which he once described as "sick". yalda hakeem spoke to him about his new book and began by asked him what he's doing to make microsoft "cool. " microsoft's mission is to not make
ourselves cool but to make our customers cool. if you look at it, the first private microsoft created was the basic interpreter for the altair. it was creating technology so altair. it was creating technology so others can create technology. altair. it was creating technology so others can create technologym we took about a i, microsoft is back in the game. what what are some of the risks of artificial intelligence? the first thing we should do is to make sure that we ta ke should do is to make sure that we take the power of a —— ai and an power people. the fact that a computer now knows what we like and what we do not like, watches us and is aware of what we are doing at all times. with any new technology you
have unintended consequences so you have unintended consequences so you have to go and tackle some of the limits. a value i think a lot about is the example privacy. that is an enduring value and we will need to make sure what is the law that takes oui’ make sure what is the law that takes our privacy. the need need for national security. 0ur framework of laws across the globe need to be more organised. won't you think indian born national ‘s do so well as ceos in america? i not an expert in the diaspora and the results of it but i think i am a product at least of two very unique american things — technology enabling me to
dream and the american immigration policy which allowed me to leave that out. i think that is a pretty unique click american thing. that is what has led many of us, especially in the 90s, when silicon valley and related diseases were taking off. there is a lot of luck that you are also talking about a very homogenous select group of a country of over a billion people. satya nadella. to see the full interview with microsoft ceo satya nadella, tune into impact on bbc world news. casinos in macau have turned out to be sure bet for 1h months in a row. the gaming industry in the world's biggest casino hub saw revenue up more than 16 percent going into golden week. these numbers come after september saw the tail end impact from two typhoons in august which caused massive destruction and unprecedented flooding. many casinos were closed for several days and had problems accessing fresh water and power.
in the philippines, the government is reviewing its policy on foreign ownership limit the move will require a constitutional amendment. it has been lagging behind its peers in south east asia when it comes attracting foreign investment. we will be looking at the paper headlines in a few minutes. back in a second. the government insists it won't rest until there's justice for the victims of the grenfell tower fire. at the tory party conference in manchester — the communities
secretary sajid javid said listening to the ‘agonising stories' of those affected was the most moving experience of his life. the bbc has spoken to a professor who has a new theory as to why the fire spread so quickly. the grendel fire burned at around 1000 degrees but aluminium should not supplied until almost twice that temperature. how is that possible! why did the aluminium part of the cladding bone? the answer might be moisture. it is counter into it it but that is what i believe could be the situation. over time, rain and humidity can get trapped in the insulate thing fire. in a fire this moisture is released to steam. steam generated from the burning foam
impinges on the aluminium. it can generate hydrogen is supplying steam near fire at such a rate is to be able to react with hot aluminium but not start to put it out. professor howard demonstrated how a small amount of water can make aluminium catch fire at just 300 degrees. amount of water can make aluminium catch fire atjust 300 degrees. you can see it is getting hot. now...m isa can see it is getting hot. now...m is a natural flame. there was no plan before you introduced the water. the professor has now handed over his findings to the ground fell enquiry —— grenfell tower. over his findings to the ground fell enquiry -- grenfell tower. that was a possibility to explain why the fire went out of control as it did. you're watching bbc news. the
headlines:. the uk's fifth largest airline monarch has gone into administration, leaving tens of thousands of holidaymakers abroad waiting for flights home. regional leaders in catalonia say more than two million people — 90% of those who voted in a banned referendum — were in favour of independence from spain. the prime minister, mariano rajoy, has called the poll illegal. canadian police have arrested a somali refugee suspected of stabbing a police officer and injuring four pedestrians in edmonton, alberta. two young women accused of using a nerve agent to murder kim jong—nam — the estranged half—brother of north korea's leader — have been taken to the high court in malaysia for the start of their trial. now it is time for our newspaper review. what's making headlines
around the world ? violence at catalonia's independence referendum is making the front page >> the breaking news is too late for most of the papers so let's look at the guardian's front page. leading with the violence at catalonia's independence referendum. the catalan president has condemned police brutality but the spanish pm says the law has prevailed. making headlines in the french paper, le figaro. this headline reads ‘two young women killed by a terrorist at the marseilles train station."