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tv   Business Briefing  BBC News  February 9, 2018 5:30am-5:46am GMT

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this is business briefing. i'm david eades. global stock markets plunge again as over a 1000 points are wiped off the dow for the second time this week. plus clean up or pay up: the uk and eight other countries have until the end of the day to come up with a plan to tackle air pollution orface eu fines. let's look at the market numbers. this is not a good look. larivee ago, they are down and down steeply. asia is the latest to follow that trend after the plunge on wall street. —— wherever you go. we start on wall street where its been another gut—wrenching day for investors. us share prices have plunged again — the dow jones industrial average wiping out more than 1000 points for the second this week, on those concerns interest rates
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could be rising a lot faster than expected. the main us indices are now all down over 10% from their record at the end of january, the official definition of a stock market correction. here'sjoe miller in new york after some of the most turbulent days, it looked like the dust had finally come to settle. but on thursday volatility returned with a vengeance thursday volatility returned with a vengeance and the dowjones recorded its second worst one—day points drop in history, plunging over 1000 points. in percentage terms, that is just over 4%. it has fallen into what is known as correction territory, losing 10% of its recent peak. all 30 shares fell in unison, in part because people saw us government that prices fall to four—year lows, indicating a broader concern that industry rises in the
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coming months might hamper economic growth. and now the stock market is on track to record the worsley, at worst week since the financial crisis. but investors are not yet alone. —— record the worst week since the global financial crisis. people seem to think that sooner or later some air will be left out of the bubble. the white house is similarly sang when. —— sanguine. the president has emphasised that unemployment is at record lows. it is the government's on spending plans that risks adding to the jitters on wall street. let's see what all that is doing to asian markets — our asia business correspondent karishma vaswani is standing by for us. it might not be free—fall, but it is not for the fainthearted, is that? not at all. asian investors waking
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up not at all. asian investors waking up this morning to more bad news out of the united states. jamillah they described how we are now in officially what is called correction territory. —— narrative. that led to 10% fall on the us indices. there is an increasing sense that here of how long will this volatility last. of course, asia has been one of the biggest beneficiaries of low interest rates in the united states, because our lot of that money has pumped into asian stock markets, helping valuations he arrives. you are starting to see some of that money being pulled out. that is unnerving a lot of people in asian markets. in particular china, today. we have seen that stock market fall by about 5%. concern is growing about just how much by about 5%. concern is growing aboutjust how much longer this volatility will go on for, even though there is this underlying sense that economic fundamentals in this part of the world still remain strong. in fact,
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this part of the world still remain strong. infact, it this part of the world still remain strong. in fact, it is some of the strong. in fact, it is some of the strong as levels that we have seen in recent years. still, our lot of anxiety in asian investors today. thank you very much adjoining is karishma vaswani. —— forjoining. let's return to europe now, where it's deadline day for countries which have failed to meet the eu's targets on cutting air pollution. they are being told clean up or simlpy pay up. let's show you the details. the uk and eight other states are on a final warning. today they must say how they intend to comply with eu regulations on the quantity of nitrogen dioxide and other pollutants in the air. london reached its annual air pollution limit in the first month of 2018. if that sounds bad, it's a slight improvement on last year when it reached the quota in just five days. the eu's environment commissioner says 400,000 people will die prematurely this year because of air pollution — and enough is enough. any countries that fail to comply with regulations could face fines or sanctions by the european court ofjustice. the uk government has already been sued three times in the british high court by environmental lawyers clientearth
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— most recently late last year. they told the bbc at the time that brexit could mean there is even less action taken on air quality. this government, in the 35 years that i have been doing environment to work, is the most reluctant to follow the law when it comes to an important public health issue. where 40,000 people a year die every make in the uk. but it does not look that will comply anywhere near we were supposed to. —— die every year in the uk. but it now looks like it will not be 2025, even though were supposed to be there by 2010. the prime minister has promised things,
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but we will ensure that we pass a new clea n but we will ensure that we pass a new clean air act. that is our best chance. that is three times the uk government has been taken to court. duncan price is director of sustainability at burohappold engineering — an engineering consultancy. thank you forjoining us. explain this, first of all. how can you have essentially exhausted your allowance after one month? we still have too great a reliance on fossil fuels four—hour fossil, transport fleet and buildings. that is causing rising levels of pollution in our towns and cities. if the government doing anything about it or are we just talk about fake fluctuations, he? there is a long way to go. we have seen a lot of cities, such as london, setting ambitious targets for the future. but there is a lot that needs to be done by city government and businesses to get the programmes going and see the improvements that we want. the
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government has been told that by the end of the day, we need the blueprint, how you will deal with us. blueprint, how you will deal with us. is there a short—term answer? can you do only to mitigate this sort of level quickly? there is an awful lot of work that businesses can do right now to improve air quality in towns and cities that they are within. i would say you should start with evil. they are your greatest asset. there is an awful lot that businesses can do to support their staff, shifting working practices, to give applicable working, it encouraging public transport, and encouraging greater walking and cycling. they can yield all sorts of benefits in terms of health and... and that is enough to make a significant difference, is it? over the longer term, the cultural shift is really important. in the short and you get real benefits for the business, getting healthier and more productive staff, and in the long—term, you have social norms changing, so there is an expectation that the way we live in our towns
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and cities is very different. yes. this is condemned to a diesel shall? is the diesel question again?‘ this is condemned to a diesel shall? is the diesel question again? a move away from fossil fuels to other fuels is important. so you cannot put all a. it is a fossil fuel issue? it is a fossil fuel issue. we need to wean ourselves off fossil fuels and moved to cleaner ways of moving around our towns and cities. we saw that list of the bad boys and girls, nine countries in all. are they are very stark differences between some eu countries and others, then? it is a common problem ina lot others, then? it is a common problem in a lot of cities. we have seen major cities in paris and london really tackling the issue together to me and coming up with best practice and sharing it together, and setting long—term trajectories. but we see some great areas of best practices while in paris and copenhagen. it is encouraging because we see what the future might hold, and we need to get on with it.
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it can be done. it can. duncan, thank you very much. now let's brief you some other business stories. japan's ambassador to the uk has said brexit is a high stakes issue and that no company would be able to stay in the uk if it was not profitable. koji tsuruoka was speaking after a meeting between prime minister theresa may and 19 top japanese bosses. us chip maker qualcomm has rejected a revised $121 billion takeover offer from its singapore based rival broadcom. it says the latest bid "materially undervalues" the company and wants more assurances of a payout if regulators were to block the deal. twitter has reported its first quarterly net profit, helped by a rise in video advertising sales. the news gave a massive boost to twitter‘s shares which closed 12% up on the day. that was despite the number of people using the social network coming in below expectations. let us back to the markets. as you
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can see, no surprise, we let us back to the markets. as you can see, no surprise, we come let us back to the markets. as you can see, no surprise, we come to the end of a week where red has dominated prebudget crossed the peace, despite one or two moments of respite. but the figures there as you can see, the dow down more than 10%. you can see, the dow down more than 4%. they are all about 4% down. and thatis 4%. they are all about 4% down. and that is essentially over concerns about a quickening pace in the rise of interest rates notjust in the us, but predominantly in the united states. up next, newsbriefing, where we'll take you through the stories making headlines in the global media today. among them, of course, the winter 0lympics. stay with us for that. thank you for watching. researchers at edinburgh university have grown human eggs
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in the laboratory for the first time. the team say the technique could lead to new ways of preserving the fertility of children having cancer treatment. it is also an opportunity to explore how human eggs develop. in laboratories in attenborough, scientists have grown human eggs. they had ta ken scientists have grown human eggs. they had taken immature eggs that women are born with and transformed them so that they are ready to be fertilised. —— edinburgh. it has taken decades of work to copy what happens inside with an's ovaries. we never imagined that we would be getting these kind of results using human tissue. so it is a significant step, but of course, the main objective for us is to improve and determine the safety of these techniques, so that we could, in the future, use an application. it could
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be used for young girls with cancer, as treatment can damage their fertility. so how would work? a girl diagnosed with cancer would have a sample of ovary frozen before cancer treatment. then later as an adult the tissue would be defrosted, and a growing, fertilise, and then put in the womb. there may even be other applications in fertility treatment. —— fertilised. this treatment is at an early stage and is refining. none of the eggs have been fertilised, so it is still uncertain how viable they are. james gallagher, bbc news. a union claims some hip fracture patients are waiting up to 80 days for a physiotherapist to visit them at home after being discharged from hospital. the chartered society of physiotherapy said the average wait was just over two weeks, even though official guidelines state patients should be offered rehabilitation daily after surgery. just time to remind you: coming up at 6am on breakfast,
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charlie stayt and naga munchetty will have all the day's news, business and sport. so stay with us that. this is the briefing from bbc news. with me, david eades. the latest headlines: the most senior south korean delegation —— north korean delegation —— north korean delegation ever to visit south korea has arrived in south korea ahead of the winter olympic games. the delegation includes the sister of kim jong—un. the highest court in sport has rejected appeals from 47 russian athletes and coaches who've been barred from the winter 0lympics. russia was banned from participating over a doping scandal at the last winter games in sochi. another us government shutdown has begun — congress unable to agree a new federal budget. the conservative republican rand paul is blocking the deal, saying it violates past pledges to rein in spending. and in business, global stock
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markets are plunging again. more than 1000 points wiped off the dow jones for the second time this week. now it is time look at the stories that are making the headlines in media across the world. we will start this with the straits times from singapore. it's marking the start of the winter games in south korea — and points out this is the first of three olympics in a row to take place in the region. 0nto the financial times now, it covers the japanese ambassador‘s warning that the uk risks losing big companies, like nissan and mitsubishi, if it doesn't keep access to eu markets after brexit. also, larry the downing street cat, didn't seem to like what he heard at least. he was beating a hasty retreat there. the times among many covering this story — it's a fertility breakthrough. human embryos grown for the first time in a lab — offering hopes to women struggling to have children. the new york post has another of the day's popular stories.
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twitter posting profits for the first time in its history, the paper points out it came at a price. we will discuss. and, miami herald covering the plight of a student from the city, or rather the demise of her pet hamster. she's thinking about suing an airline after it backtracked on a promise to let her emotional support animal fly with her. she says she was left with no option but to flush it down the toilet. with me again is lianna brinded — the european news editor of the online news service quartz. thanks forjoining us again. the winter olympics, it is

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