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tv   Business Briefing  BBC News  November 13, 2017 5:30am-5:46am GMT

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this is business briefing. i'm sally bundock. brexit summit at downing street. the uk prime minister meets european business leaders to hear their views on how to make a smooth separation from the european union. and a new passenger on board. ride—hailing firm uber strikes a huge investment deal with japan's softbank. these other markets across the board. that is friday's close in the united states but in asia, a mixed day emerging as they take stock of the massive rallies we saw in asia last week. as britain's departure from the european union draws ever closer, there is growing scrutiny over future trade links
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between the two sides. so, for the first time, prime minister theresa may will welcome european business leaders to downing street later. she wants their input on how to minimise disruption after march 2019. 15 leading business organisations from across the continent, including experts from the confederation of british industry and institute of directors, will be there. last year, the uk exchanged about $730 billion worth of goods and services with the other 27 eu countries. that amounts to 43% of total uk exports. the export of cars and chemicals take the biggest share. mrs may had a bit of a torrid weekend, with some of her party allegedly preparing for a vote of no confidence in the prime minister. but her defence secretary came out in her defence, and said that, with brexit, she is towing a straight line. the prime minister in her florence
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speech made absolutely clear the generous offer that reason is putting forward. we want to have a cooperative relationship with europe, but she has always made it absolutely clear that actually we have to get the right deal for britain, and that is what she will deliver. with me is thomas cole, head of policy at open britain. good morning. that is one view, of course, her ministers rallying around her. but in terms of the day ahead she has quite a difficult audience, hasn't she? a tough offer to convince these business leaders negotiations are going well. she certainly has, we heard in your opening remarks that the british chamber of industry will be there and a number of key european
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players, counterparts in germany, france and italy. they will want to hear what is the likelihood of there being any breakthroughs on negotiations and at what point does theresa may think negotiations can move forward to the future arrangement, including the trade arrangement. at the moment it is not looking great. the plan was originally to have an agreement in october, to be able to move forward at that point. that hasn't happened. what we have now is that there should be an agreement in december, when 28 heads of government meet to discuss negotiations. and things are not looking too good so business leaders will be very concerned about what is going to happen in the short, medium and long—term. what is going to happen in the short, medium and long-term. she is likely to say to them that she is looking for a transition agreement where will have two years post— march 2019 to continue trading in the way they are now, in order to get themselves ready for change. is that really likely? well, i think on the one hand the transition is clearly needed. theresa may spelt
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out in her florence speech at the end of september that is what she wanted. that hasn't been translated into any official negotiating position by the british government. it is clear that from the eu 27 side, as well as the european parliament, they said it could be possible. in the case of member state government they said only that it should be time—limited. so there is clearly willingness for that. the question is is two years long enough? it would be the status quo, so enough? it would be the status quo, so the uk staying in the single market and the customs union and if that were the case and at least until march 2021, trade would continue as it is today. the question is what happens after march 2021, and in the period until a new trade relationship has been agreed. it is unlikely that, if you were to start trade negotiations after the december council, early next year, that at that point until march 2021, it may not be enough time to agree the future relationship. in many respects you may actually be longer
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transition period, and i'm not sure that within theresa may's government she has support for that. thank you very much indeed. just to say, at that discussion in downing street, we have mentioned those attending but also brexit secretary, david davis, and the business live page will update you on what we here in terms of how it goes. —— what we hear. uber has confirmed to the bbc that it has entered an agreement with japan's softbank over a potential investment. let's go to our asia business hub, where shara njit leyl is following the story. interesting, this one. softbank co nsta ntly interesting, this one. softbank constantly buying bits of this and that. tell us about this latest investment in uber. that's right, sally. lots of speculation has been swirling about that some sort of $1 billion deal could be made, but financial details of the investment have not yet been disclosed, as yet, and what it could be is potentially one of the largest private start—up deals ever. now, so far we have got
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a statement from uber saying they have entered into agreement with a consortium led by softbank, and that this would essentially help fuel investments in the elegy and their continued expansion at home, as well as abroad, while strengthening corporate governance. those last two words, corporate governance, that is key because it alludes to the many problems uber has had over leadership turmoil, executive departures, sexual harassment claims. the fact that venture capitalfirm claims. the fact that venture capital firm benchmark has an outstanding lawsuit against the founder. we will be watching this very closely. thank you very much. it is dubai air show this week, one of the world's biggest gatherings of airlines and aircraft manufacturers. bombardier has used the event to challenge the high tariffs imposed by the us on imports of its new cseries passengerjets. jeremy howell reports from dubai. the dubai airshow is a global shop
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window for dozens of new aircraft. few have hit the headlines more this year than the cseries, a range of narrowbodied jets from canada's bombardier. the trump administration has slapped a 300% tariff on these claims, saying that bombardier took state aid from canada to develop them, and that put it in an unfair advantage over american rivals like boeing. at the dubai airshow, bombardier said it is determined to challenge boeing's lobbying. boeing does not have a 100 seater to compete with the cseries, does not produce that product. we are not invited to the table to compete, because they don't have a product. so it will be very challenging for them to demonstrate how they are damaged in this. not in a bid to woo american buyers, bombardier has said
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some of the aircraft's components will be made in the usa. we will invest in mobile, alabama, that is about 2000 jobs as well. so for the cseries programme and the ebb last partnership, it is good for the us and canada because it strengthens the programme —— airbus. for us, i think the us production line does a greatjob of bringing benefit to a lot of different constituents, and certainly for the us customers who are certainly for the us customers who a re interested certainly for the us customers who are interested in the accra. bombardier wants to join boeing are interested in the accra. bombardier wants tojoin boeing and airbus in the major league of passenger aircraft manufacturers. the success of the cseries at the dubai airshow and beyond will be a deciding factor in whether it can do so. now let's brief you some other business stories: boeing has snatched up a dream of a deal from its rival airbus at the dubai air show. emirates has placed a preliminary orderfor a0 of their 787 dreamliners, in a deal worth about $15 billion. that is a blow to airbus, who were expecting a deal of their own.
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the numbers are in from the world's biggest online shopping event, singles day. chinese internet giant alibaba raked in a whopping $25 billion on 11 november. last year, alibaba sales hit a record $18 billion in 2a hours, which was equivalent to the entire economic output of cambodia. bitcoin fell to as low as $5,555 on sunday, logging a weekly fall of 22%, its biggest since earlyjuly. one reason is that some traders are dumping it for a clone called bitcoin cash. the digital currency has now fallen over 29% from a record high it touched on wednesday. if bitcoin be dazzles you, there are
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lots of explainers on our website to tell you what it is all about. and now, what is trending in the business news this morning? the financial times reports that the pound drops in asian trading, after reports of letter of no confidence in pm theresa may. this story from the times — a plan to cut congestion on motorways will include installing traffic lights on busy routes. wonder how that will speed up things. and videogame equipment maker razer jumps as much as 41.5% in hong kong debut, according to bloomberg. and don't forget, let us know what you are spotting online. use the hashtag #bbcthebriefing. up next: news briefing.
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gun owners in england and wales are being encouraged to hand in their weapons to the police, as part of a two—week—long gun surrender scheme. people giving up their firearms won't face prosecution for illegal possession, but could be questioned if a gun is found to be linked to a crime. the initiative comes after recent statistics suggested that crime involving firearms has increased significantly in england and wales since last year. sima kotecha reports. handing yourguns and handing your guns and no questions will be asked. that is what police forces across england and wales are calling upon people to do. last firearms surrender in 2014, when 6000 handguns, rifles and imitation firearms were handed in. it is targeted at those who may have
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forgotten about owning a gun, or may be too scared to tell officers they have got one, in case they are arrested. the deal is no questions will be asked at the point of surrender. however, if the weapon is based hill traced back to a crime scene, they could be called in for questioning. we are realistic enough to realise that we are not going to get hardened gang members on possession of weapons they intend to use, hand in a gun. but this is part of our response, to try and make it as difficult as possible for those people to come into possession of any type of weapon at all. latest figures show that they were almost 7000 crimes involving firearms in england and wales last year. that is an increase of 27% on the year before. at the number of crimes is still far less than a decade ago, when it was 31% higher. critics say those who want to use a gun will do so, and the surrender won't make a difference. it begins today, and
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last for two weeks. coming up at 6:00am on breakfast: dan walker and louise minchin will have all the day's news, business and sport, including prime minister theresa may's meeting with eu business leaders. this is the briefing from bbc news. the latest headlines: iranian media say an earthquake has killed more than 140 people in the west of the country. donald trump is attending the asean summit in the philippines. demonstrators have been protesting against the us president. new fears for the health of a british woman held in iran, as uk the government faces more criticism over its handling of her case. plenty more on the bbc news app, take a look when there is time. there are continued updates from
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iran and iraq, reports coming from the region. and a story about a protest taking place in hollywood on sunday, it was a #metoo march in the heart of hollywood on sunday it — you can get more details that as well. now it's time look at the stories making the headlines in media across the world. we begin with the philippine star, with a story dominating the press in asia, donald trump alongside philippine president rodrigo duterte — they're all smiles at the asean 50th anniversary dinner but this publication points out that the us president did not raise the issue of extrajudicial killings. meantime, in the south—china morning post, a dramatic picture of demonstrators scuffling with police outside the us embassy in manila in protest to trump's visit. the us president has offered to mediate in the south china sea disputes. turning to the financial times, with an article on the front page
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claiming british spymasters fear anti—virus software that has been given to more than 2 million barclays customers may be being used as an intelligence—gathering tool by the russian government. having a look to the guardian in australia, where activists have vowed to press on with protests for more than 400 refugees on manus island, as authorities in papua new guinea prepare to forcibly remove them today. in other news online, for reuters, prince charles leads remembrance day ceremony for the british war dead, as the queen watched on. some say it signals a significant shift as the head of state gradually


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