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tv   The Briefing  BBC News  September 18, 2018 5:45am-6:00am BST

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production in the face of falling sales. and now the front page of the ft with the story that coca—cola is in ‘preliminary‘ talks about manufacturing drinks containing cannabis. and finally let's go to variety magazine for some glitz and glamour and the emmys, where there was even a wedding proposal. are all you have a sneak preview. unitjeremy cook is with us. the chief economist of the payments company world first. talking about south china morning post and the news about the new ta riffs post and the news about the new tariffs on chinese trade goods. what do they say? they say that it has happened and it is not a surprise and that obviously while we have or will have a 10% tariff next week on $200 billion worth of goods going
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from china into the us, the main thing it will pick up to 25% in january and many people out there are saying that 10%... is really much? isjust are saying that 10%... is really much? is just a shot across the bow of? symbolic. yes symbolic or will it actually raise revenue for the us. will it actually change customer behaviour? or is this just something to try and bring the chinese back to the negotiation table. so far there have been reports that the chinese will not come back to the table as a result of these and therefore we are atan result of these and therefore we are at an impasse. also interesting is that it reminds us of what this is all about, that is president trump's argument that the trade relationship between china and the united states is quite unfairon between china and the united states is quite unfair on this article talks about beijing's agreement with the wto dating back to 2001 that means there is a restriction on
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foreign participation in key sectors such as car manufacturing order manufacturing, media and tell communications. this means that foreign companies must form joint ventures or foreign companies must form joint ventures 01’ even foreign companies must form joint ventures or even turn over property rights to technology and that sort of thing. this is what president trump is saying is an unfair trade relationship. will he achieved his goal? will we see china roll any of that back? you are shaking your head. i don't think so. china has a plan for 2025 about how it reinvigorates a economy and builds towards the burgeoning middle class and the services sector within chinese economy. depending on how the election goes in 2020, donald trump will still not be president in 2025, regardless of whether or not he wins in 2020. that china plans are for much longer than donald
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trump will be president. they may just be placating him, dragging it out. short-term pain and long-term gain? that one thing about the difference of balance between the economies is the per capita income between the consumers. i am sure that chinese consumers would love to purchase more us goods but they do not have the money to do that. it is not have the money to do that. it is not straight and is the kind of businessmen, however, who would encourage that. yesterday we were looking at the headline in the metro about michael gove, talking about the fact that lets support the prime minister now with the plan that we have and see it through, we can a lwa ys have and see it through, we can always change it later. and now the president of france's quick to step in and say, no it. we're going to go down that route. things that need to be addressed now and they need to be signed off now because someone who works with businesses, international business and small business, they
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are uncertain about the trading relationship with europe and if they have to make a change away from the single market and the customs union, they want to be able to make just one change. that is their policy moving forward, that is their tax arrangement and supply chain moving forward. for a politician who, for wa nt of forward. for a politician who, for want of a better phrase, does not have skin in the game, to say that we will just have skin in the game, to say that we willjust change it around later is the kind of things that this is most definitely does not want. and eu leaders are putting out a strong warning as if to say this will not work. this is one line from the guardian that says that a no deal brexit... guardian that says that a no deal brexit. .. the uk guardian that says that a no deal brexit... the uk will be looking at their darkest hour and stare into their darkest hour and stare into the abyss of a node yield brexit before we caved in to brussels demands. and you have from the imf yesterday about the risks of a no deal brexit. they will release more economic projections, i believe, in november. but the impact on imports
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and exports on the pound, on uk debt on interest rates, there are fears after the vote but nothing has changed. we are still members of the eu now. if we fall out with no deal brexit the impact could be terrible. as an economist, we're are you want this? we are often criticised as talking to a lot of people like you and it has been a similar message, some call—up project fear, however you want to name it, but there are many... there are other voices now. we have philip hammond and we know what his agenda is to a degree. he has a job as head of the treasury. we have the head of the imf and the head of the bank of england. many voices saying that it will be bad. wea rer voices saying that it will be bad. wearer you are in terms of how bad it will be if things do not go well? many people are predicting a recession after the vote and that growth would slow and unemployment rise. but it was the near—term
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shocks to sentiment as a result of everybody going oh, this is happening and how will we deal with it? that article 50 period ends march 29 2019 and then the traditional arrangement, the bedrock forgetting things into order, it does not exist. there will be a lack of regulations, custom unions, lack of regulations, custom unions, lack of regulations, custom unions, lack of regulation for pharmaceuticals airlines finances, services. it all falls apart. one sector that is very exposed is the car manufacturing sector in the uk. jaguar is putting workers on a three—day week. this was a headline in the times that was announced yesterday. jaguar and others who have factories in the uk are very concerned. in the last three months we have seenjaguar in the news a fair bit, talking about moving production from birmingham in
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the midlands over to the berkshire to be part of the eu. is also a move away from diesel engines towards more electric engines. now, a lot of this move into a three—day week has been cast in brexit turns. it does seem been cast in brexit turns. it does seem to be more of a strategic shift away from diesel. nine from ten jaguar cars are diesel and there will be political backlash and economically and environmentally against diesel over last 12 months. so whether the cuts in production are actually because people do not wa nt are actually because people do not want these cars any longer, the baby jaguar sold only 30,000 this year. shift in production due to demand? this is interesting. the financial times front page. coca—cola exploring cannabis products as we'd spreads into well the strings. this could open a real can of worms. ——
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spreads into wellness drinks. this is looking at cannabis oil as a wellness product and if you are a consumer brand, people need to have a cannabis strategy. it does sound strange but they are looking at how they sell it, how to put it to market. there is a company that saw its shares leap after this news. they have $28 million worth of sales year and they have $28 million worth of sales yearand are they have $28 million worth of sales year and are now valued at more than ralph lauren, western union, just purely on speculation that they are ina prime purely on speculation that they are in a prime position to be taken over by coca—cola. coca—cola are global. this is the next... watch this spate and make space. —— watch this space. but move on now to the emmys because time is running out. what have you
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been watching, it is the global —— golden age of television. one viewer told is that they record a lot of series but never get to watch them. everything looks fantastic and we can watch it when we want to watch it, it's just finding the time. can watch it when we want to watch it, it'sjust finding the time. new stuff like what a guard like we have here in the uk. and you enjoyed the go now? —— game of thrones?” here in the uk. and you enjoyed the go now? -- game of thrones? i have been re— watching the west wing as well. it is everywhere, television. thank you for coming in. wonderful to have you here on the briefing. thank you for your comments. lovely to hear what you are watching at the moment. i will see you very soon. hello. the jet stream targets the uk with a proper taste of autumn over next few days.
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several areas of low pressure moving through. the first on tuesday, the remnants of ex—hurricane helene. so storm helene is coming in and the winds at the south and centre of this will be strengthening as tuesday begins. another area of low pressure into wednesday too so voer the next few days, some strong, possibly disruptive wids as well so keep in touch with the situation in your part of the world through bbc local radio because there could well be some impact on travel, for example. the yellow, a met office warning area here, you need to be aware of some impacts during tuesday. some of the strongest winds through coastal and hilly areas to the west of wales and western england but it is going to be a very blowy we start off the day in that part of the world. some rain, heavy rain around parts of scotland in particular as tuesday begins with a mild, even warm start for some because the air is coming in from the south, south—west and there is some warmth
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associated with that. outbreaks of rain clearing northwards into the morning and then things are drierfor a time, broken cloud and sunny spells and heavy showers arriving from the west towards the end of the afternoon and going into the evening. we've established it's a very blustery day across the uk but some warmth again, we get to see some sunshine, particularly through the east and south—east of england, 2a, 25 celsius could be yours but many of us are in the high teens, even low 20s. the winds strengthen into tuesday evening and night across northern ireland and scotland. as we see this weather front moving east across the uk, not much in the far south of england but further north, heavier and maybe thundery downpours out of that. becoming dry during the second half of the night and again, temperatures are holding up into double figures as wednesday begins. so the next area of low pressure on wednesday, the concern about this is that it will produce even stronger winds. it will be a very windy day across the uk on wednesday, widely some gusts around 40, 50mph or so but some of them will be strongest through parts of wales, northern england, northern ireland and scotland and into western scotland, we could well see some up to 75mph so again, that risk of disruption on wednesday and associated with that, another spell of rain pushing north and east across the uk though again,
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not very much the further south you are — still some warmth here. elsewhere, it will be turning cooler. winds ease later in the week. good morning. welcome to breakfast, with steph mcgovern and jon kay. our headlines today: the trade war between the world's two largest economies. the us imposes new tariffs on thousands of chinese products worth £150 billion. one in five people in the uk is affected by harmful content on social media and the internet. the broadcasting watchdog calls for tougher regulation. to. there arejust
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to. there are just six months to. there arejust six months before the uk leads the eu. —— good morning. we are in brussels in the spectacular setting of the home of the brexit negotiating table. we will bring you the view from the eu. morning.
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