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tv   Business Briefing  BBC News  October 18, 2018 5:30am-5:46am BST

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this is the business briefing. i'm sally bundock. running out of road. as brexit talks fail to make progress, the uk car industry says leaving without a deal will set it back two decades. plus, #metoo sweeps across india, as women take to social media to speak out over workplace harassment. and on the markets: asian shares are mixed, as wall street fell, with minutes from the federal reserve saying that policymakers are united on the need for more interest rate rises. we start with brexit, because as you've been hearing european union leaders have decided there's not been enough progress in talks with the uk to hold a planned summit next month. it means britain has edged a little closer to leaving the eu
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without a deal in march — a situation seen as potentially catastrophic by many in the business world. fear of a ‘no deal brexit‘ has sent the pound down sharply over the summer, although it has stabilized more recently amid signs of progress. but german chancellor angela merkel told parliament in wednesday the country must be prepared for no deal. german firms export goods worth almost $100 billion to the uk each year, with cars making up around a quarter of that. the car industry's european lobby group is warning a failure to agree a trade deal would set back the uk car sector by at least two decades. but speaking to business leaders in the city of london last night, international trade secretary liam fox was still making the case for a bright post—brexit future. for britain to fulfil its whole
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potential we must access all the available global markets. it is not available global markets. it is not a choice between the european union and the rest of the world. we need to sell to both. the eu remains the market for 44% of our exports. but the eu itself accepts that 90% of global growth in the next 5— ten yea rs global growth in the next 5— ten years will come from markets outside europe. iamjoined by david collins, professor of international economic law, university of london. good to see you. you are listening to liam fox. there has been so much noise this week with regards to brexit. your take on where we are at. it is frustrating. we would like
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to have had a deal by now. i would have had a few years ago that we would have won. i am hopeful there will be a deal. if there isn't we can handle an ideal situation. it is not what we want. it would be u nfortu nate, not what we want. it would be unfortunate, but i think the country can manage. i think in the long—term that the uk will be better off outside of the eu, even if it takes five or ten years for that to materialise. would you describe yourself then as a brexiteer? you can me that if you want to. when you say a no deal would be unfortunate, what about this warning from the european car lobby group saying it would set back the uk car industry some two decades? that is u nfortu nate. some two decades? that is unfortunate. very unfortunate for many, unfortunate. very unfortunate for any unfortunate. very unfortunate for many, many jobs. absolutely. unquestionably. this is why preparations for no dilmi to be undertaken in earnest. part of the problem is we did not start talking about no deal until a few months ago —— fora no about no deal until a few months ago —— for a no deal must be taken. if
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we had put them in place the impact would not be as bad as it would be otherwise. as liam fox indicates, in future there will be trade deals so the trade in cars that would have happened, the production lines that would have been in place, that were in place with the eu will shift to other countries. many within the conservative party are arguing about what the deal should look like. this is why things have been stalled for so is why things have been stalled for so long. some are calling for a canada plus or canada plus plus arrangement. you believe that to be the best dancer as well. explain what that would be and why. —— best a nswer what that would be and why. —— best answer as well. it would be the deepest trade agreement that the eu has ever done. zero something like i9% of all goods. good coverage on services. it would be even deeper coverage on services, services. it would be even deeper coverage on services, that is essentially what they can plus deal would look —— canada plus deal would look like. we have to leave it there. thank you for coming in and
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sharing your thoughts on that story. so much more online that explains where we are at the moment. let's go to india now, where junior foreign minister mj akbar resigned on wednesday, amid sexual harassment allegations by more than a dozen of his former colleagues. mr akbar denies the accusations and has filed a criminal defamation lawsuit against one of the women. in the past two weeks, india has witnessed a wave of allegations on social media about harassment and assault in the workplace, naming senior figures from business to entertainment and journalism, as the bbc‘s devina gupta reports. for this tv producer it has been a weight of 20 long years. as the #metoo movement gained momentum across india of the last week, for ordeal is finally being heard. has social media not come up, i was done and dusted. it was over. her facebook post of describing a sexual
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assault is triggered massive support in the industry. something that was missing when she first revealed the alleged incident in a leading newspaper 14 years ago. alleged incident in a leading newspaper 14 years agoli alleged incident in a leading newspaper 14 years ago. i wasjust weeping. tears were rolling down my eyes. i was 100% sure that i had support. i wasn't wrong. eyes. i was 100% sure that i had support. iwasn't wrong. she eyes. i was 100% sure that i had support. i wasn't wrong. she has accused an actor, who has made a career out of playing virtuous characters in indian films, but his lawyers have denied the allegations and files a defamation case against. india is one of the fastest growing social media markets, and stories shared here are fast galvanizing women across the country. according to twitter, almost 40,000 tweets in the #metoo india movement had been shedin the #metoo india movement had been shed injust ten the #metoo india movement had been shed in just ten days. the #metoo india movement had been shed injust ten days. this movement is also coming at a time when social media is grappling with the dangers of fa ke media is grappling with the dangers of fake news —— shared. media is grappling with the dangers of fake news -- shared. be legal challenges for a media trial or a
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twitter trial is that it is not a submission in a court of law. it is not something governed by principles of natural justice, the not something governed by principles of naturaljustice, the rules of the law, there is no evidence, there is a testimony, it is only eight he said versus she said. -- only he said versus she said. -- only he said she said. she said a comedian had harassed by sending lewd photographs. the on world load —— world cannot be censored. a small amount of people uses as a chance to someone. amount of people uses as a chance to someone. we need to look at how many women are still looking to tell their story. but with 250 million social media users, the #metoo movement is a balancing act for the companies involved, at a time when the government has been threatening more regulations and interventions into how they do business in india. let's talk about those trade tensions between the world's two top economies — the us and china. a report by the us treasury has not accused china of manipulating its currency, despite concerns that it would do so.
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many in the us allege that china keeps the yuan artificially weak to give its exporters an unfair advantage. sharanjit leyl is following this for us in singapore. lovely to see you, sharanjit. i would imagine in china they are relieved they have not been named and shamed as a currency manipulator. but relations are far from good. absolutely right, sally. the irony of ironies, china escapes being slapped with the label currency manipulator and guess what has to happen, but the chinese yuan hitting a 20 month low against us dollar. the currency slid as much a 0.3% against the greenback. no big surprise china remains on a watchlist that us treasury officials monitor. the exchange rate practices and the declines are according to them particular concern. the trump
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administration has, as you said, it has long argued that china keeps it artificially low. it raises particular concerns. it has strengthened relative to where it had been. economists now say it is more in line with china's economic fundamentals. the story is a little more about the us dollar's strengthening, particularly this year as us interest rates have risen. the dollar is up about 6.6% against the yuan this year. the stronger dollar makes american exports more expensive. thank you so much, interesting, sharanjit, keeping us across what is happening there. let us stay with what the us is up to with regards to trade with china. it has announced plans to withdraw from a 144—year—old postal treaty which the white house says lets china ship goods at unfairly low prices to the us. the united nations treaties as low
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international rates for packages from certain countries, a move originally designed to support poor relations. the us as the discounts that american businesses at a disadvantage. ebay has filed a lawsuit against amazon, accusing the us retail giant of using illegal tactics to recruit sellers. it says amazon representatives abused ebay's internal email system to contact sellers — a violation of the marketplace's policies. amazon declined to comment on the case, which follows a letter from ebay demanding an end to the activity. it had previously said that it was investigating the claims. that's it for the business briefing this hour. 0ur
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our global media review in a moment. but first... what sounds like a cat but looks like a bird? it isn't the start to a bad joke, but a genuine description of a north american bird that has graced our shores. the grey catbird has drawn thousands of keen birdwatchers to near lands end in cornwall where it has been spotted for only the second time in the uk. naomi dymond has been down to take a look. binoculars and telescopes to hand, they came to day to catch a glimpse of the catbird, a species native to north america. we havejust of the catbird, a species native to north america. we have just stepped away from the group, because the name of the game here is notjust patience, but also silence. the twitchers are paused —— boys with their cameras and it really is a waiting game. what is it like when you are waiting and you actually spotted? it is not pleasurable, i have to say. there it goes. 0h! it has just have to say. there it goes. 0h! it hasjust gone have to say. there it goes. 0h! it has just gone past us. have to say. there it goes. 0h! it
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hasjust gone past us. that was timing. it is extremely stressful, i have to say. and then when you have a40 have to say. and then when you have a 40 minute wait and it pops up, it is like relief. so patient was eventually rewarded. it had been blown across by the winds we have had recently. the conditions that brought it across the. it is a very rare bird in the uk. it does not belong here. it is a migratory species in the states and it makes lack a catlike noise, which is why it is called a catbird. many travelled hundreds of miles today, so travelled hundreds of miles today, soa travelled hundreds of miles today, so a lot depended on this little bird. i think this is about the longest i have had to wait for a specific bird without giving up. relief. i set out at five o'clock this morning so it is relief. i have to drive back now. it is not known how long the bird will survive you, but that is not stopping those keen to catch a glimpse while they can —— survive here. that story by naomi dymond, and if you want to find out more about the catbird charlie stayt and naga munchetty will on breakfast at 6:00.
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this is the briefing from bbc news. the latest headlines: theresa may has refused to rule out delaying britain's exit from the eu — in a bid to break the deadlock over the irish border. the us has asked turkey to hand over a recording — allegedy detailing the final moments of journalist jamal khashoggi. meanwhile — turkish investigators have completed a search of the saudi consul‘s residence in istanbul. now it's time to look at the stories that are making the headlines in the media across the world. we begin with the telegraph and uk prime minister theresa may who has told eu leaders she is prepared to consider extending the brexit transition period beyond the end of december 2020. meanwhile the new york times takes a look at so—called uk "brexit preppers", who have begun
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stockpiling supplies and growing their own food due to fears of chaos erupting once britain leaves the european union. the washington post pays tribute to saudi journalist jamal khashoggi by publishing one of his last columns written for the paper. the piece titled "what the arab world needs most is free expression" was sent by his assistant the day after he was reported missing in istanbul. the guardian says more than ten million tweets sent by state actors attempting to influence us politics have been released by twitter to the public, forming one of the largest archives of political misinformation ever collated. and finally the gulf news reports, on ride hailing app uber which is tackling the issue of drivers working long shifts and suffering from fatigue by enforcing a maximum drive time. after 12 hours of driving, the uber application will shut down
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and the driver will no longer be able to accept new passengers, until he or she has been offline for six hours. with me is priya lakhani who is a member of the department of business, innovation and skills entrepreneurs forum. many of our regulars know that you are hot under the collar when it comes to brexit and how the negotiation process is going. what is your feeling about the thought, for his article in the telegraph

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