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tv   Business Briefing  BBC News  November 26, 2018 5:30am-5:46am GMT

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this is the business briefing, i'm samantha simmonds. theresa may embarks on hard—selling her brexit deal, after eu leaders approve an agreement on the uk's withdrawal and future relations. cyber monday warning. why today's internet shopping bonanza may also be a gift to online criminals and hackers. and on the markets, asian stocks have posted modest gains on hopes of solid us holiday sales, though plunging oil prices fanned worries about a more uncertain outlook for the global economy. eu leaders have given theirformal backing to theresa may's brexit deal at a special summit in brussels, calling it the best deal possible. but they were also clear there was no alternative plan, other than a no—deal exit, if the uk parliament rejects the withdrawal deal in december.
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so what might a future trading relationships between the two sides look like? the eu is currently the uk's largest trading partner. in 2017, uk exports to the eu were worth over $350 billion. that is 44% of all britain's exports. the brexit deal envisages a trading relationship that is as close as possible on goods. under the terms of theresa may's brexit deal, to avoid a hard border on the island of ireland, the uk will stay in a customs union after a 21—month transition period if a wider trade deal is not ready to come into force. britain has said it wants to negotiate trade deals around the world, outside of the eu. but the concept of a single customs territory that forms the basis of the irish backstop could restrict britain's ability to sign comprehensive trade deals with other countries outside the bloc. the uk's financial services industry has expressed concern over the lack of detail about access to the eu's financial markets after brexit. the question on whether the eu's
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existing access to uk waters will continue has also been deferred until 2020. france is one european country keen to protect its fishermen by maintaining the current arrangement. here is what french president emmanuel macron said when asked if he was willing to compromise on this point to help theresa may win the support of parliament on the withdrawal deal. i don't want to interfere in the decision and the vote of the parliament, but let me just remind you that you have the withdrawal agreement plus a declaration of intention for future relations. agreement plus a declaration of intention forfuture relations. it is not france. the 27 countries do back the position on fisheries i just mentioned. and you just have to ta ke just mentioned. and you just have to take it as we discussed and we agreed, on a holistic approach with
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the agreement on future relations, and our position on future relations is very, very clear. david henig is director of the uk trade policy project at the european centre for international political economy. welcome to you, good morning. what do you make of what we do and don't know so far? how much uncertainty is there? the eu have been very clear in saying this is the deal, take it oi’ in saying this is the deal, take it or leave it, if you like. u nfortu nately, or leave it, if you like. unfortunately, they would say that, wouldn't they, because they know it will be tricky for the prime minister to get this deal through parliament, and if she fails we don't know whether there is any more scope to do anything different in the withdrawal agreement. and to stress that that is the withdrawal agreement, not the future trade relationship. but the future trade relationship. but the future trade relationship is still pretty uncertain, isn't it. we don't know what the arrangement will be fought britain's working in the eu. there are hundreds of similar questions,
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whether it is freedom of movement, financial services, movement of data, the phrase frictionless trade does not appear in the declaration about the future relationship, so will we be able to maintain supply chains? we don't know, and that is all to be debated. we also don't know how long it will debate. two yea rs know how long it will debate. two years is very optimistic. you think it will take longer than that? most trade deals the eu has completed ta ke trade deals the eu has completed take at least four years and an extra period of time to ratify and implement it, so we are most likely looking at a longer period. what do you make of a headline today that said that brexit will leave the uk 100 billions pounds a year worse off? so with numbers there should a lwa ys off? so with numbers there should always be a word of caution. clearly the uk has a huge gdp and i haven't seen those figures specifically. most economists think there will be a hit to gdp year on year. we are
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not clear what that number will be, and a lot of that will depend on the nature of the future relationship. but we have already seen according to most estimates a decline in the last two years of gdp, so it is likely that that will continue. but in terms of planning, we have heard so in terms of planning, we have heard so much from business over the last two years. so much from business over the last two yea rs. we so much from business over the last two years. we need to be able to manage our supply chains, depending on what business it is. but business seems to be ahead of the game here. they have too, don't they? banking, commas, whatever it is, people are preparing in one way or another. many businesses are preparing, many businesses have plans which frankly they are very close to needing to know whether to put them into place in december or not. but a lot of smaller businesses have found it quite tricky to put plans in place, so quite tricky to put plans in place, so they are still waiting in the hope that the deal comes in and they have certainty for the next two
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yea rs, have certainty for the next two years, and that gradually becomes a longer period. thank you very much, good to see you. cyber monday is one of the biggest shopping days of the year. even on black friday, many shoppers decided to go online instead of head to the stores. e—commerce sales rose more than 23%, crossing the $6 billion mark. it is also prime season for cyber criminals. let's go to our asia business hub, where rico hizon is following the story. tell us more. well, black friday may have seen huge gains, but e—commerce a nalysts a re have seen huge gains, but e—commerce analysts are saying that cyber monday will be much bigger. adobe analytics expects a 20% increase in online sales compared to last year. cyber security experts warn today's internet shopping bonanza may also bea internet shopping bonanza may also be a gift to online criminals and hackers. a cyber security expert i spoke to earlier said, despite the data breach, people continue to shop online without fear. two they are
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kind of use to it when we shop online nowadays, and obviously it is somewhat impacting our behaviour. but how can we better protect ourselves from these data breaches and these hackers? that comes from the very beginning, when the e—commerce platforms are writing their software, so it more difficult to secure everything. so we need to start from the beginning and not adding the layers of security afterwards. online research groups say cyber monday shoppers could cause websites to crash when they flood online. the sale is expected to be bigger than black friday. so it is time to shop. not more shopping, i did plenty this weekend. the perth is empty now. -- purse. pushkar is the biggest camelfair in india, and a source of income for the raika community in rajasthan. but, as the bbc‘s devina gupta
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reports, they have been struggling to find buyers in recent years. this caravan of camels is headed to the india's largest camel fair, in the western city of pushkar. tribals from india's raika community, like mandsaur, walk for 15 days with these camels which they plan to sell. but, for the past few years, he has been struggling to get buyers. translation: earlier we sold the camel for $700, which helped to raise my family. but now, people don't even buy the camel for $70. according to the officials, last year almost 4,000 camels came to the fair, but only 20% were sold. one of the reasons that is hurting the business is the stringent state laws that prohibits camel breeders
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from selling them outside the state or even for slaughter. but the laws meant to protect camels are also paving the way for an illegal camel trade. this group of men are bargaining to buy a baby camel. and one of the prospective buyers tells me he wants to take the camel out of the state and sell it again for a better price. translation: it is not allowed to take the camel out of the state, but people need it for farming. we have to do a lot of work to get them out, so we should make some profit too. the government officials are tightlipped about it. translation: we can't say anything about it. the ban on camel exports was imposed to stop illegal trading, but we can't comment on what's happening now. but dr kohler—rollefson believes there could be another solution. she is trying to popularise camel milk at the fair. at the moment, we're turning over about 30—50 litres of camel milk per day, and it's selling
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at about $4 per litre, and afamily can make about $250 per month from selling camel milk. but at the moment it's only about, you know, half a dozen, a dozen families who are in benefitting. it is a small step for now, but dr kohler—rollefson hopes in the coming years, the traditional camel fair can be reinvented into one that can provide sustainable business for the community. up next: newsbriefing. we will take you through the stories making headlines in the global news media today. rail passengers wishing to complain about theirjourneys will now be able to appeal to an independent ombudsman. all of the uk's national train operators have signed up
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to the independent body, meaning they will be obliged to take action if failings are identified. joe miller has more. delays, cancellations and crowded carriages. britain's long—suffering rail passengers have had plenty to complain about. 500,000 air their gripes in the past year, butjust 28% were happy with the outcome. from today, disgruntled passengers and those who have waited more than 1:0 and those who have waited more than a0 working days for a response will be able to appeal to an independent ombudsman, paid for by the franchise owners themselves. we are very aware that we have lost the trust of many of our that we have lost the trust of many of oui’ passengers, that we have lost the trust of many of our passengers, especially after what happened with a timetable, and we are going to work hard to try to get it back. and this is part of that process. effectively it means that process. effectively it means
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that if a train operating company hasn't dealt with the complaint to the satisfaction of the passenger, 01’ the satisfaction of the passenger, or the passenger feels that the train operating company has dragged its feet and not replied within eight weeks of their original complaint, then they will be an independent body that will force the train operating company to take that complaint seriously. the launch of a new complaints procedure has been welcomed by passenger groups and the government, although both say they hope a better rail service will mean it is seldom used. but, if last yea r‘s it is seldom used. but, if last year's christmastime it is seldom used. but, if last yea r‘s christmastime disruptions it is seldom used. but, if last year's christmastime disruptions are anything to go by, the new ombudsman may have its hands full very soon. coming up at 6:00am on breakfast: dan walker and naga munchetty will have all the day's news, business and sport. they will also have the latest on brexit, and the prime minister's warning to mps that if they don't back her deal, they risk more division and uncertainity. this is the briefing from bbc news.
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the latest headlines: after the eu has agreed theresa may's brexit agreement, the prime minister is today trying to convince parliament to back her deal. russian special forces have seized three ukrainian navy vessels off the coast of crimea, in a sharp escalation of tensions. later on monday, the security council will discuss the crisis. after six monthes in space, the nasa insight spacecraft is due to make its final descent onto the surface of mars. now it's time to look at the stories that are making the headlines in the media across the world. we begin with the independent, and its front page is covered with the word "yes" in many different european languages. the paper asks now that the eu has agreed to theresa may's brexit withdrawal plan, will the uk parliament back her? meanwhile in a comic twist, the telegraph asks, are you sick of hearing about brexit? and should the countryjust get behind the uk prime minister and just get it over and done with? the ft leads with former nissan
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chairman carlos ghosn, who has denied to tokyo prosecutors that he intentionally understated his pay in financial documents. he is accused of under—reporting his salary to the tune of $aa million. in the new york times, egypt, with the help of china, is to build a new administrative capital close to cairo. the multibillion—dollar project includes the building of 21 skyscrapers, one as tall as the empire state building. and finally, cyber monday is here. the mail online says shoppers are set to crash websites in a £1.a billion shopping spree much bigger than black friday with price cuts of up to 85%. maybe i have blown it and shopped too soon. with me is kulveer ranger, vice president strategy & communication at atos. good to see you. have you done any shopping? i have. the credit card
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has been exercise. but there is a bigger deal. a far bigger deal. the 27 european states have agreed a deal with the british prime minister. what our press has been covering all weekend is this message of getting on with it, which echoes what the prime minister is saying, who is absolutely committed to the deal. the british parliament will vote for it. that is at the next and probably the final hurdle to this withdrawal


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