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tv   BBC Business Live  BBC News  July 13, 2018 8:30am-9:01am BST

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there this rescue mission itself. there we re this rescue mission itself. there were questions about whether the boys had been sedated. the divers said they were put in a relaxed manner and preferred to pass that on toa manner and preferred to pass that on to a medical team to give any greater detail, but clearly, that has been an issue people are keen to know more about. so that is the initial response from the divers at heathrow. the extensive flooding in japan the extensive flooding injapan has claimed 200 lives, it is the worst they have experienced in nearly 200 yea rs. they have experienced in nearly 200 years. rupert wingfield—hayes went to one of the towns hit hardest. the floodwaters have now gone but they have left behind a fetid ruin. when the dijks burst, the whole town was submerged under five when the dijks burst, the whole town was submerged underfive metres of stinking toxic floodwater. this man
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and his wife are still in shock and lucky to be alive. inside, he shows me what the floodwaters have done to their home. nothing can be salvaged. the family failed to heed the warnings to leave, and when the floodwaters came, they took refuge in their bedroom. but that was not high enough. you can see the tide mark, that is how high the water came on the second floor. translation: it was horrifying to watch the water gets higher and higher. it didn't stop. we thought we we re higher. it didn't stop. we thought we were going to die there. at down —— at dawn, the couple were found by rescu e rs —— at dawn, the couple were found by rescuers on their roof. a few meters away in this house, three of their neighbours were not so lucky. at the
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end of the street, this family are trying to salvage photo albums. the house has been gutted. it will have to be completely rebuilt. in 50 yea rs, to be completely rebuilt. in 50 years, he has never seen anything remotely like this. translation: acadiana has a mild climate, we never get rain like this. i never thought we would be hit by such a disaster. i should have told my neighbours to evacuate. they did not need to die. we have lost so many people here. the volume of rain was unprecedented. in one place, half a metre fell in 2a hours. across western japan, four times the averagejuly rainfall western japan, four times the average july rainfall came in western japan, four times the averagejuly rainfall came in one week. the link between global climate change and extreme weather events is very complicated. for many yea rs, events is very complicated. for many years, climate scientists have predicted that across the northern hemisphere there will be more and more extreme rain events, where a
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month or even to mark a months worth of rainfall can fall in two days. —— oi’ of rainfall can fall in two days. —— or even two months‘ worth. japan is one of the wealthiest countries in the world, with some of the best flood defences. they were not strong enough to withstand this onslaught which has left 200 dead and still counting. rupert wingfield—hayes, bbc news, in okayama. the news conference in heathrow means we are a bit late starting with business live, but it is coming right up. stay with us. this is business live from bbc news. trump‘s brexit bombshell, plans to keep close ties with the eu would probably kill a trade deal with the us, the president tells the sun newspaper. that is our top story on friday the
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13th ofjuly. president trump has also praised borisjohnson, saying president trump has also praised boris johnson, saying he president trump has also praised borisjohnson, saying he would make a good prime minister. all this topping off a challenging week the mrs may. china‘s trading surplus with the us hits a record high, will it add fuel to the trade war between the world‘s two biggest economies. european markets are open and it looks positive for now. and it has been a big week in the world of economics, we will be talking to andrew walker about the week that was. and today, as twitter‘s latest crackdown on fake accou nts twitter‘s latest crackdown on fake accounts means many celebrities are seeing follower numbers diminish, does it matter how many followers you have? let us know, just use the
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hashtag #bbcbizlive. hello, and a very warm welcome to the programme. we start with president trump, who will be talking trade with prime minister theresa may at her country residence chequers later this friday. on thursday night she entertained him and business leaders from both sides of the atlantic at a lavish dinner at blenheim palace where she made the case for a free trade deal between the us and uk. she called it an unprecedented opportunity to do more transatlantic business as britain prepares to leave the european union. it is already a hugely important business relationship for the uk, leicester uk exports to the us totalled $140 billion, including goods like cars and medicine, but the vast majority of exports were services. the us arguably has more
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to gain, it but a much bigger economy. it exported $93 billion of goods and services to the uk last year, but both of those figures are dwarfed with the uk‘s business relationship with europe. uk exports to the uk with $362 billion last year, almost half of everything at exports. protecting of trade has been a key priority for the uk government in its controversial plans for a so—called soft brexit, keeping close links to the eu. in an interview with the sun newspaper, president trump once soft brexit will mean no trade deal with the us, 01’ will mean no trade deal with the us, or possibly worse. lots to suggest. with me is a us economics fellow at chatham house, a think tank based in london. theresa may put on a lavish affair last night, bands were out, dinner was a p pa re ntly night, bands were out, dinner was apparently very good. those comments comejust apparently very good. those comments come just before they are going to tuck into the food. how damaging is
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that interview? very damaging for the special relationship and it adds fuel to the fire for the brexiteers who were quite unhappy. trump puts his finger at a very inconvenient truth, there is a trade—off between regulatory alignment with the eu post brexit and regulatory alignment with the united states in a free trade agreement between the us and the uk. the way he is going about it in this very undiplomatic way is not very helpful. you mentioned regulatory alignment, how much do you think is personal to mrs may, or is it just you think is personal to mrs may, or is itjust his strategy of not particularly liking the eu at the moment and seeing this as a divisive way of saying it is us or them?m could be seen as part of a broader negotiation strategy, it is kind of throwing a grenade into the meeting with theresa may and putting the uk
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of balance and seeing that as a way to extra ct of balance and seeing that as a way to extract future concessions from the united kingdom in a future negotiation. at the same time, the language is very much also focused on the eu, there is a broader context because we are seeing us ta riffs context because we are seeing us tariffs hitting the united kingdom and the european union. looking into the future there is the looming ta riffs the future there is the looming tariffs on cars and automotive imports. it will have huge and much larger political and economical implications. these are quite bold comments to make. because he is in a position of power from terms of negotiation, does it matter what he says? we will still want to trade with him in the uk? fundamentally the case for a future trade relationships between the us and uk is still there. for the uk, the us
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is still there. for the uk, the us is the single most important export markets. there is large interest, but in terms of the united states, it is the seventh—largest trading company. thank you, marianne, we will hear from you later. some of the other stories making the news, some of the world‘s bigger celebrities have lost millions of twitter followers after the company crackdown on so—called locked accounts. us singer katy perry, the most followed singer on twitter, and lady gaga, lost around 2.5 million followers. ba rack obama lady gaga, lost around 2.5 million followers. barack obama went down to around 2.1 million. the company said that cracking down on fake accounts was an attempt to build trust. johnson &johnson was an attempt to build trust. johnson & johnson has was an attempt to build trust. johnson &johnson has been ordered to pay $4.7 billion in damages to 22 women who allege that it‘s talcum powder products cause them to develop ovarian cancer. the verdict comes as develop ovarian cancer. the verdict comes as the pharmaceutical giant babbled some 9000 legal cases
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involving its signature talcum powder. it said it was deeply disappointed and planned to appeal. the us government was making another attempt to block at&t‘s $80 billion deal to buy time warner, it is to appeal against a landmark court ruling last month that cleared the deal and there were claims from the justice department that it would harm competition. a very brief look at the markets, a pretty good end to the day for markets in asia, following the lead on wall street. coming up turning season in the us, thinking corporate news will be better than expected. let‘s look at how european markets have opened, they are following the lead of wall street and asia, shaking off any worries of trade tensions between donald trump‘s united states and china. paul blake has the details on what is ahead of wall street. it isa is ahead of wall street. it is a big day for banks in america, several of the biggest
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names, includingjp america, several of the biggest names, including jp morgan, america, several of the biggest names, includingjp morgan, city and wells fargo are set to report earnings. the expectation is all will be seeing green, but it is not all good news for wall street. late on thursday the us justice news for wall street. late on thursday the usjustice department dropped a bombshell, announcing it would appeal the merger of telecoms giant at&t and media giant time warner. the marriage of the two companies came after a two year legal battle widely seen as one of the biggest anti—trust cases in decades. shares in at&t fell in after—hours trading on thursday, thursday... what is coming up in earnings season?m will be very interesting, the first quarter was very strong, all eyes will be on whether the second quarter is as strong. we expect earnings growth of 20% plus, which is very, very encouraging for investors and helping to offset
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their worries about trade tensions we are seeing at the moment. as a result, the nasdaq hit a new high yesterday, the s and p is that a five—month high so markets really enjoying the prospect of a good earnings season. thank you, tom. still to come... how will china respond to america‘s latest terrorist threat? we will be going through the week in business with our economics correspondent andrew walker. you are with business live from bbc news. now, four of britain‘s leading airports have been told they are failing to provide suitable access for disabled passengers, the most common for disabled passengers, the most common problem being travellers waiting on the tarmac, sometimes for more than half an hour after landing, before someone comes to help them off the plane. the civil aviation authority gave
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manchester airport is poor rating, london gatwick birmingham and london sta nsted were told london gatwick birmingham and london stansted were told they need to improve. paul smith is consumer and markets director with the civil aviation authority. talk is through what your report found ? authority. talk is through what your report found? the report looks at the services provided by the top 30 uk airports for passengers with disability who need help accessing the airport, it is a positive story overall, 16 airports ranters really good for providing a great service to disabled passengers, but four airports, manchester ranked wins and sta nsted, airports, manchester ranked wins and stansted, gatwick airports, manchester ranked wins and sta nsted, gatwick and airports, manchester ranked wins and stansted, gatwick and birmingham have more work required so that disabled passengers and those needing the service gets a great service. so more workers on the ground helping those who need help? it can be resources, and the focus, have we got the right staff training? where service is really good, staff are really passionate and there is a real focus from management on delivering a great service. what is great about what we
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have today is you can improve, heathrow has moved from poor last year to be in good this year. that has been a real focus, resources, training. edinburgh was poor two years ago and is good, it is a catalyst for change and improvement. this story here is on radio four, one point of view, a trade expert saying that president trump‘s comments about prime minister theresa may‘s brexit plan are typical of this great negotiator. he is part of the coalition for prosperous america and the white house says he is trying to put a foot forward that makes the us position seem firm and strong, but if you look at his history, his strong is whether she starts with a strong is whether she starts with a strong and tries to find, i is
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quickly. one point of view, plenty more on our website. you‘re watching business lives, our top story, donald trump has said the uk will probably not get a trade deal with the us if the british prime minister‘s brexit plan goes ahead. he told the sun the prime minister‘s plan would probably kill the deal as it would mean the us would be dealing with the european union instead of with the uk. chief among donald trump‘s complaints about today‘s world order trade imbalances between the us and its trading partners, and the latest trade data gives him new ammunition. china says its trade surplus with the us hit an all—time high with last month out port —— export
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outstripping imports by $29 billion. and big business stories this week. andrew walker, welcome. talk about these trade figures. they do add fuel to the fire. explain what this means. this is china selling $29 billion worth of goods more to the united states tha n worth of goods more to the united states than it bought from the united states and there has been an increase in the global trade imbalance that china reported. and as you say, that really doesn‘t blame the situation. president trump has this preoccupation with bilateral trade imbalances. i have said before that the great majority would say that focuses completely misplaced but that is what he sees it as, evidence of unfair trading practices. and having already started taking action against china, he has seen the balance, the imbalance increase and it is undoubtedly likely to make him even
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more irritated. these figures come from slightly before the latest round of tariffs were imposed. so it might be that once the impact of thoseis might be that once the impact of those is felt, things do change a little. it is still a big number and president trump will not like it. we have seen some companies react, harley—davidson. also, tesla opening a factory in shanghai. will we see more? we might well do. tesla is interesting. the process of planning this operation goes back before the new tariffs were imposed. china already has quite a hefty tariff on imports of cars, 25%. which i think elon musk and tesla were keen to avoid. the fact that is moored ta riffs avoid. the fact that is moored tariffs on american car import in china it is another reason i am sure he is glad to have made the decision. we had stated out today saying china‘s increased its surplus in terms of trade so it puts it in a
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good position when it comes for these tit—for—tat. .. good position when it comes for these tit-for-tat. .. yes, but bearing in mind, looking at direct tit—for—tat, china will run out of american goods at camp at tariffs on if it wanted to directly match what the americans are doing because it does not import enough. the total amount in the firing line for the united states against chinese imports, imports from china, it is in excess of $200 billion. last year, china and the bought $130 billion worth of stuff from the united states, so a lot of speculation about more aggressive regulatory enforcement china might take, but things like this investment by tesla, and the german chemical company basf suggest china is welcome to foreign investors, so difficult to calculate how they will react. the us moving on so many fronts, not just china,
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react. the us moving on so many fronts, notjust china, the eu, canada, mexico, the uk. very difficult for the us at the moment? yes, it certainly is. again, this focus on bilateral imbalance. and president trump‘s view that imbalances are to be interpreted as indicating that trade agreements are unfair. in the case of canada and mexico, it is quite striking that, mexico, it is quite striking that, mexico specifically, by the north american free trade agreement which he has railed against, actually, because mexico‘s initial tariffs and other trade barriers are higher than the united states, mexico has moved further in implementing the agreement and the united states has had to. by tearing that agreement, if you were to go down that path, you could argue he is doing a disfavour american exporters. andrew, thank you very much indeed. ina andrew, thank you very much indeed. in a moment, we take a look through the business pages, first, a quick
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reminder of how to get in touch. stay up—to—date with all the business news as it happens on the bbc's business live page. insight and analysis from our team of editors around the globe. and we wa nt editors around the globe. and we want to hear from you, get involved on the bbc's business live web page. on twitter... and you can find us on facebook. business live come up on tv and online, what you need to know, when you need to know it. what other business stories has the media been taking an interest in? thomas stevenson is back, to discuss some of these. let‘s talk twitter. a story which is really interesting, and the bbc website. it says that after a crackdown by twitter, the number of fake twitter followers
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that many celebrities have seen increasing their numbers have increased dramatically. barack obama, you would not think he would pay for followers. katie parry, the most followed person on twitter. it is interesting because they make a lot of money from their followings. that is the point, it is notjust about vanity, eve ryo ne point, it is notjust about vanity, everyone on twitter likes to bump up their numbers, it is very visible, a sign of your popularity. so there is that element, but there is also a commercial and financial element. so many celebrities and ordinary people also, the new breed of vloggers, are depended on the numbers they can claim for the money they can squeeze out of sponsors. people wearing clothes or whatever. so the numbers you can attract has a commercial and financial impact as well. it -- do
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you think this transparency will catch on to instagram and facebook? instagram more important in terms of selling, will that catch on? yes, instagram is the key place where people are able to get this commercial backing. so maybe it will, but it is not really in their interest. they want to encourage this kind of activity. we have had a number of tweets about this. one person, i thinkjoseph, says, the quality of followers matters since a person can make a hundred accounts with different identities and the account holder must verify who is following them. a lot of these are verified accounts, they have an egg as their logo instead of a photo so it is a bit dodgy? there is murky to this. people do buy followers. there are
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ways of doing that. that is clearly not in any one‘s interests. even from the individual point of view, employees can go to a job interview and say they have lots of followers and they are commercially very important. who would do that?! it is wimbledon ladies final on saturday and this is about serena williams. she had a baby ten months ago and she is back, how important is it to have a good post maternity leave plan in the city where you work? lots of organisations, my own included, have a return to work scheme which encourages people to come back and not as soon as serena, this is people who have been out of the workforce for many years, ten, 15 years, they have lost confidence in their ability, the workplace has moved on. encouraging them back is very important. as always, very lovely to have you won. that is all we have time for on business live. plenty more business news throughout the day.
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on bbc business live pages and bbc world port. goodbye, thank you. a few of us woke up to welcome rain this morning. a few of us have woken up to showers this morning, giving the garden a well—earned drink. but as we go through the day, many more of us will start to see some showers developing, and there‘s a risk that some of those showers could be heavy with some thunderstorms. but they‘ll be very hit and miss. for most, there‘s also dry weather with some sunny spells developing. showers this morning focused around north—western areas of england, but into the afternoon, we will probably see some quite torrential downpours. that provides more energy to get the showers going. radically southern parts of north west england, east wells, west
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midlands, central and southern areas. showers hit and miss. some could get the complete del use. that could get the complete del use. that could lead to localised flooding. for others, it could stay completely dry. in the sunshine, temperatures up dry. in the sunshine, temperatures up to 22,20 6 degrees for england and wales. temperatures in the high teens, and the 20s. and and northern ireland. showers continued through the evening before clearing away overnight. more cloud into the far north west and temperatures down to ten, 16 degrees. things becoming a bit more comfortable. weeping through the next few days. and the weekend. this area of low pressure moves towards iceland, that is hurricane chris. it opens the door to more atlantic winds and weather systems into north—western areas. but it also draws warm wear. through the weekend, particular —— the g20
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warm in eastern areas. saturday, more cloud across scotland and northern ireland, light and patchy rain. for england and wales, showers across the east, but otherwise dry, sunshine and temperatures on the rise, the mid—to—late 20s or most parts of england and wales. temperatures in scotland and northern ireland up into the low to mid 20s. sunday, cloud and rain across north and western areas. more sunshine for england and wales and it will be a hot day for many. temperatures, 26—30, perhaps 31 in the south east. even across the north west. despite the cloud and rain, temperatures 22—23dc, have a good day. hello, it‘s friday, it‘s nine o‘clock. i‘m chloe tilley, welcome to the programme it‘s not any friday but friday the 13th and theresa may must be hoping the day doesn‘t get any worse for her. donald trump has dropped the kind of bombshell that only he can. in an explosive interview with the sun, he said theresa may‘s brexit strategy could wreck britain‘s
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chances of a trade deal with the united states. mrs may was at a black—tie dinner with president trump at blenheim palace in oxfordshire as news brokeof his interview. and the president also said that he was disappointed the pm didn‘t seem to have taken his advice on how to negotiate brexit.
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