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tv   World Business Report  BBC News  April 9, 2021 5:30am-6:01am BST

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hello. this is bbc news, with the latest headlines for viewers in the uk and around the world. no green light for summer getaways — travel bosses say england' plans for covid tests on departure and arrival will price most holidaymakers out of the market. i think that this risk driving further inequalities about who are the people that can afford to travel and those who cannot. tall orders — england's pubs and restaurants brace for a surge in bookings as they prepare to serve customers outdoors from monday. a taxing question for the world — will a global minimum tax rate force multinationals to pay their way? plus — another day, another
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record on wall street, as the federal reserve promises it won't raise interest rates in a hurry. hello there. we start with the travel industry, it's been expressing widespread frustration after the uk announced a framework for the safe reopening of travel. the british government says it can't yet confirm whether foreign holidays — currently banned — will be allowed to resume in may. it's promised a traffic light system to categorise countries based on risk, but it is giving no hints about which countries will get the green light. and it is making all travellers pay for tests when departing and returning to the uk. the boss of easyjet says he fears it's a return to the days when only the wealthy could afford to travel. here's our transport correspondent, caroline davies.
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we may be dreaming of sunshine and summer getaways, would you pay around an extra £100 per person when coming back from your trip overseas? i person when coming back from your trip overseas?— your trip overseas? i think it's very — your trip overseas? i think it's very disappointing. - your trip overseas? i think| it's very disappointing. the boss of easyjet is not impressed, at this part of the government has made plans to reintroduce international travel in england. 1 reintroduce international travel in england.- reintroduce international travel in england. i think it is a blow— travel in england. i think it is a blow to _ travel in england. i think it is a blow to all _ travel in england. i think it is a blow to all travellers l travel in england. i think it i is a blow to all travellers who are wishing to go see friends and families and go on a holiday in summer. and in particularly, the concern why there are now two test systems in what they called the green category. in what they called the green cateuo . ., , category. today's reports says passengers — category. today's reports says passengers coming _ category. today's reports says passengers coming from - category. today's reports says passengers coming from the l passengers coming from the lowest risk, green rated countries, will still need to take one of the more expensive pcr test when they arrived back in england and pay for it themselves, currently around £100 each. instead, the industry want to use the quicker and cheaper lateral flow tests. the government says pcr testing will allow them to monitor positive cases and check for variants of concern. the report also says if travel
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does go ahead, countries on the green list will be announced in early may. there will be a watchlist of countries at risk of changing to amber, new consumer rights for ticket refunds. the industry is already gearing up for international travel on me 17. whether that will happen won't be confirmed either way until next month. the fight simulators here are in use 2a hours a day with pilots turning to get back in the skies.- to get back in the skies. --me 17. as to get back in the skies. --me 17- as pilots — to get back in the skies. --me 17. as pilots we _ to get back in the skies. --me 17. as pilots we are _ 17. as pilots we are tremendously looking forward to getting back in the air again. —— may 17. we are really trying to respond to any pent—up demand so we are fully ready to go when the government gives the green light on certain routs in the future.- routs in the future. thisl announcement is not the grand reopening the industry was looking for, but after months of travel restrictions, the industry looks likely to take time. caroline davies, bbc
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news. let's stay with the easing of coronavirus restrictions here in the uk, because from monday, pubs, bars and restaurants in england will be able to reopen for outdoor—only drinking and dining. all customers will have to check—in using the nhs track and trace app. there is huge pent—up demand with hospitality venues reporting thousands of pre—bookings. patrick hooykas is managing director of thefork.com, which is europe's top restaurant booking platform and part of tripadvisor. thank you very much forjoining me, patrick. what kind of trade are you expecting? well what we have seen in the last few weeks, on the uk version of our website, we have seen an enormous number of this type of bookings. we see people very eager to go out.— very eager to go out. when restrictions _ very eager to go out. when restrictions were _ very eager to go out. when restrictions were lifted - very eager to go out. when restrictions were lifted iast| restrictions were lifted last year, restaurants experienced a large number of no—shows,
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people booking and not turning up. what gives you hope people would be more confident to go back into restaurants, for example, at this time around? we saw during wave one, we saw an enormous spike and within two months we were almost in the same level as before, before covid. so there is already a trust and now we see the people are really resilient and they really want to go back. , ._ ., , ., , back. they may well do but many restaurants _ back. they may well do but many restaurants have _ back. they may well do but many restaurants have gone _ back. they may well do but many restaurants have gone bust - back. they may well do but many restaurants have gone bust in - restaurants have gone bust in the last year. how many have disappeared from your platform? currently what we see as we are still growing. we are very popular, currently, because the people need to have a reservation to go inside. restaurants cannot depend on walk—ins anymore. for us we still walk-ins anymore. for us we still see growth.— walk-ins anymore. for us we still see growth. 0k. how long do ou still see growth. 0k. how long do you think — still see growth. 0k. how long do you think it _ still see growth. 0k. how long do you think it will— still see growth. 0k. how long do you think it will take - still see growth. 0k. how long do you think it will take for - do you think it will take for business to return to pre—pandemic levels? figs business to return to pre-pandemic levels? as i said, compared _ pre-pandemic levels? as i said, compared to _
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pre-pandemic levels? as i said, compared to italy _ pre-pandemic levels? as i said, compared to italy and _ compared to italy and switzerland, just after wave one, it took us approximately two months to come back to the same level. two months to come back to the same level-— same level. 0k. and the situation _ same level. 0k. and the situation will _ same level. 0k. and the situation will be - same level. 0k. and the situation will be the - same level. 0k. and the l situation will be the same across europe?— situation will be the same across europe? that is what we're seeing _ across europe? that is what we're seeing after _ across europe? that is what we're seeing after wave - across europe? that is what| we're seeing after wave one, across europe? that is what - we're seeing after wave one, of course we cannot be completely sure the same is to happen. but for the uk, i sure the same is to happen. but forthe uk, i have sure the same is to happen. but for the uk, i have the same expectations.— for the uk, i have the same ex - ectations. ~ ., expectations. ok. we will leave it there. patrick _ expectations. ok. we will leave it there. patrick hooykas, - expectations. ok. we will leave it there. patrick hooykas, best| it there. patrick hooykas, best of luck for the reopening on monday. of luck for the reopening on monda . ., ~' ,, , of luck for the reopening on monda . ., ~ , . gyms in england will also be able to reopen after months of enforced shutdown. we'll be speaking to the boss of one of the biggest chains in a few minutes' time. but first, let's talk tax, shall could a global deal on corporate taxes finally be on the cards? campaigners have long campaigned and complained that multinational firms, especially big tech, take advantage of different jurisdictions to avoi paying theirfair share. now the biden administration is proposing to close the loopholes with a global minimum tax rate of 21%. here's what treasury
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secretary janet yellen had to say this week. we are working with 620 nations to agree to a global minimum corporate tax rate that can stop the race to the bottom. together, we can use a global minimum tax to make sure the global economy thrives based on a more level playing field in the taxation of multinational corporations and spurs innovation, growth, and prosperity. alex cobham is chief executive of the tax justice network, a group campaigning against corporate tax evasion and the abuse of tax havens. alex, your prayers have been answered! there is a global consensus building around this. what are your concerns?- what are your concerns? look, this is a terribly _ what are your concerns? look, this is a terribly important - this is a terribly important step forward. you know, we have been campaigning for this a
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long time, as you say, because multinationals around the world go through these processes to shift their profits out of places where they make money and into places with low or zero tax rates. we reckon that costs the world around $245 billion in lost revenue every year. that is money that could really help, to invest in public health services at the moment, in general, to help us have better public services and to fight inequalities. this feels like real progress. at least we have agreement that we should have multinationals everywhere paying a pretty serious effective minimum tax rate, 21% or perhaps higher. the devil, though, as ever, is in the detail. what we are worried about is these proposals, as developed at the oecd, appearas proposals, as developed at the oecd, appear as if they will 0ecd, appear as if they will privilege rich countries over poorer countries. the home countries, the headquarter
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countries, the headquarter countries of multinationals over the host countries, and that may mean we still have a big fight on our hands to try and get low income countries in particular, that cd biggest share of their tax revenues lost due to profit shifting, to actually benefit from some version of this.— version of this. let's talk about the _ version of this. let's talk about the rate. - version of this. let's talk about the rate. 21% - version of this. let's talk about the rate. 21% is . version of this. let's talk| about the rate. 21% is the number being floated at the moment. yesterday, iwas listening to david malpass, he said 21% was probably too high. what level would you like to see, and who should be setting it? �* , see, and who should be setting it? a , ., , , see, and who should be setting it? , , it? as it stands, this can be taken ahead _ it? as it stands, this can be taken ahead by _ it? as it stands, this can be taken ahead by a _ it? as it stands, this can be taken ahead by a coalition l it? as it stands, this can be | taken ahead by a coalition of the willing, it doesn't need a verbal agreement. different countries can choose their own rates. we have seen statutory rates. we have seen statutory rates fall, even in rich countries from around 40— 45% not so many decades ago, to 30%, now 20%, and countries like the uk have been reading a race to the bottom in the last few years in particular. so we
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do need to reverse that. 21%, i think, it feels low to a lot of people. so many multinationals are paying between 0—5%, globally, on their profits at the moment. 6etting globally, on their profits at the moment. getting to 21% would be enormous progress. if we can get to 21— 25%, in the current process, which is yet to be concluded byjuly, then we have something to build on for the future, and that is certainly not too high, we are talking about giving the biggest, multinational, most profitable companies in the world with something like 70% of their profits after tax. i am sure those multinationals would do very well if that is what they are left with. amazon boss jeff bezos _ what they are left with. amazon boss jeff bezos is _ what they are left with. amazon boss jeff bezos is trying - what they are left with. amazon boss jeff bezos is trying to - what they are left with. amazon boss jeff bezos is trying to be . bossjeff bezos is trying to be on the right side of history for this, on the right side of history forthis, backing on the right side of history for this, backing it. what does it mean to have the likes of amazon behind it?- it mean to have the likes of amazon behind it? when jeff bezos says — amazon behind it? when jeff bezos says amazon - amazon behind it? when jeff bezos says amazon would i amazon behind it? when jeffj bezos says amazon would be happy with a higher corporate tax rate, if you means, i am
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happy with that because we're not paying anything like the statutory rate anyway. amazon and the others would have to pay that minimum statutory rate. i think it would change the way that amazon competes with small domestic businesses. who can't take advantage of these profit shifting opportunities. i think this will be a real shot in the arm for competition. as much as anything else, we will see markets move better because we have read in the disproportionate power some of these big companies like amazon have. ., ~ these big companies like amazon have. . ~ ,, these big companies like amazon have. ., ~' ,, , these big companies like amazon have. . ~ , . ~ have. thank you very much, alex cobham, have. thank you very much, alex cobham. joining _ have. thank you very much, alex cobham, joining us _ have. thank you very much, alex cobham, joining us from - have. thank you very much, alex cobham, joining us from london. thank you. let's go to asia now, where the united states has widened its sanctions against the military government in myanmar. the treasury department has added a gem company owned by the military authorities to its list of targets. mariko 0i is following this for us in singapore. tell us what you know. there
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have been a number of sanctions by the us and other countries on generals involved in the coup as well as two conglomerates controlled by the military. the latest target is the country's state jam company, seen as a key moneymaker, managing notjust moneymaker, managing not just the moneymaker, managing notjust the mining and marketing of the country's jade and other gemstones. it's hard to put an exact figure on the industry, but it is estimated the jade industry alone is worth some $15 billion. the treasury department has said it would now block all assets and ban any transactions with the company. secretary of state antony blinken said the us and its allies are determined to restore democracy in the country. the big question, though, is how effective these questions are? because it is a tricky balancing act to put pressure on the military without affecting the burmese people. all the while, of course, protests are continuing in the country, and i am not sure if you have heard of the
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milk tea alliance, but it is an online protest movement which has drawn together through democracy activists across asia, hong kong, taiwan, thailand, and now myanmar. printer has launched a new —— twitter has launched a new emoji. china has criticised it, asking for them to be fair and objective. thank you, mariko. stay with us on bbc news. 6yms in england can reopen from monday. but can the bear the weight of months of losses? we speak to the boss of losses? we speak to the boss of the uk's biggest chains. one of britain's richest men has been found stabbed to death at his home in dorset. sir richard sutton was a hotelier worth more than £300 million.
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sophie berman reports. with more than £300 million, sir richard sutton, one of england's most rich man, was found stabbed to death in dorset. last night, his body was found at his home near 6illingham. a 60—year—old woman, believed to be his wife, was critically injured in the attack and is any serious condition in hospital. dorset police say a vehicle linked to the incident was followed to london, where a 34—year—old man was arrested on suspicion of murder. he is believed to be known to the couple. sir richard's company paid tribute to him, saying his loss would be felt by all who work with him, and his family, who have lost an incredible individual. sophie brohman. this is bbc world news. the latest headlines: police in northern ireland use
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water cannon for the first time in six years after more violence, in west belfast. president biden sets out measures to tackle gun violence, which he says has reached epidemic proportions in the united states. live music is a $29 billion a year global industry that has been brought almost to a standstill by the pandemic. but as vaccines lead to the easing of restrictions around the world, there is hope the volume can be turned up again. one of the world's leading concert promoters has told the bbc that a huge amount of pent up demand means some venues are seeing bookings for as far away as 2024. alex hill, chief executive of ae6 europe, has been speaking to my colleague aaron heslehurst, who began by asking how damaging the pandemic has been for the live music industry. we host about 20,000 plus events a year and now we have not posted any, so the impact is absolutely massive, if you look at our employees, sadly we
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have had two redundancies last year, the numbers would have been higher if we weren't able to rely on government fellow schemes. 6overnments have supported less freelancers, i would say, and the impact on them is huge, we have seen a significant number of people leave the industry and i think it would be one of our challenges in reopening to make sure we have the right talent in place to be able to regenerate and reinvigorate the live music industry.— live music industry. indeed. you operate _ live music industry. indeed. you operate venues - live music industry. indeed. you operate venues all - live music industry. indeed. i you operate venues all around the world from christchurch and zeeland to los angeles to shanghai to stockholm. what lessons have you learned from where venues have reopened, such as new zealand? and can those lessons help you to reopen and other areas like the us and europe when that happens?— us and europe when that hauens? ., .,. ,., happens? we have taskforces and each country _ happens? we have taskforces and each country looking _ happens? we have taskforces and each country looking at _ happens? we have taskforces and each country looking at the - each country looking at the issues that we are dealing
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with. we share best practice, trends, information across the globe to be able to take what we learn and apply it from some of those industries are countries where it is working, as you say. we start to see momentum across asia and australia and new zealand, at the moment, and as vaccine rollout programmes across the world are developing, and the us and the uk right now, we are beginning to see a lot more momentum. less so and europe at the moment, mainland europe where the vaccine programmes are not quite well as advanced. surveys from bands in towns suggests, 55% of fans and 85% of artist will stick with live stream events after the pandemic, they say. are you concerned that that is going to make the concerts you put on
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less profitable? i’m make the concerts you put on less profitable ?_ less profitable? i'm not too concerned. _ less profitable? i'm not too concerned. i— less profitable? i'm not too concerned. i think - less profitable? i'm not too concerned. i think there - less profitable? i'm not too concerned. i think there is l concerned. i think there is definitely a place for that, the streams that we have found but i think the power of live sport, music, entertainment is so, so strong. the connection between an artist and a fan in a venue the size of 50 people or 50,000 people is so powerful and what we are seeing is unbelievable pent—up demand for when we can get back and put live events on, in particular with younger demographics, i think people are desperate to see live events and the great news is as well that the artist want to come out as much as possible, so it is incredibly hard, for example, to get a date for availability in 2022 or even 2023. we are seeing artist book up into 2024.
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and viewers on bbc world news can see more of that conversation about how the live music industry has been hit by coronavirus — on "talking business with aaron heslehurst" this weekend. the times are on your screen now with the first airing at 2330 gmt on saturday. it's notjust pubs and restaurants that will start getting back into business from monday here in england — gyms will be able to open their doors after months of enforced closure. fitness addicts have been pining for their gym fix — but it has also brought the fitness industry to its knees with millions in lost revenues. humphrey cobbold is ceo of pure6ym — the uk's largest gym chain with over a million members. thank you very much forjoining me today. i was just looking at some of the data that your company sent us. you've been losing half a million pounds a day. how are you still operating? 6ood good morning victoria. look, it has been a brutally tough yet for us in the gym industry and
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yes that statistic of half £1 million a day of losses, i'd like running a business that makes half £1 million a day so we can keep reinvesting and at, not losing that money. but look, we have been incredibly well supported by our investors who helped us through a very difficult period, both our equity investors and our bond investors. we are very grateful for the support that the government has given us in the forms of the fellow scheme and the rates holiday that has been in place for the last year and continues to be in place, of course we would love a little bit more supportive were possible. it has been incredibly tough but we have had to do everything we can to limit cash burn and cash losses so that we are in a position to reopen next week. we are not looking backwards now but looking backwards now but looking forward to that reopening and very excited about that starting in england on monday. what does a recovery in the business look like to you? how many sites and how many staff do you hope to have back up and running? in england we will be completely up and running next week, we will open 246 sites
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next week including ten brand—new sites, and it's actually the most sites with ever opened in a given week, we are still looking to expand. we've done a bit of capital to keep a pipeline of new openings going. we know that there is latent demand out there, a little like your prior guest who was saying that there is underlying strong latent demand for what we do, let's remember this is a health crisis that we have just been through and we will now understand much more than we did before the importance of physical and mental health and well—being for our immune systems and our general body health and we are seeing strong demand from people as we move towards reopening after the government's announcement that we are going ahead. we are very focused on that and very excited about next week. people had no choice but to change their fitness habits, many investing heavily in home gym set—ups and zoom classes. are you worried that the age of the gym membership may have passed ?
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look, i'm mean, listen, we are great fans of anything that gets people at live and exercising, we think that's incredibly important, it's great thatjoe wicks has been out there and that people have discovered new exercise regimes, but we do think that gyms still have a central role to play for lots of people, not for everybody and that's absolutely fine. why is that? well, we provide people at £20 a month, 24 hours a day, seven days a week access to tremendous facilities with a broad range of equipment that people can't really replicate at home and we give them a space, frankly, to get out of home and i think all of us want to get out and get about and connect with people and be in a sense of community again, i think that is one of the things that we have really lost in the last year or so, and we know from the last reopening in the period between july and
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period betweenjuly and october that, steadily people will come back to us. we got back to about 85% — 90% of our revenue and membership by the time we got to october last year, we are confident we will see that coming back, so i think we will see people doing lots more activity and exercise of all kinds including gems, so in answer to your question directly, i am confident about the future, i'd believe that we have got a really important role to play. we offer a great value product to people at a time when they really needed because of the importance of physical activity and well—being. the social aspect of gym membership is often key to members — how will you make your gyms covid secure? and what are you going to do about things like classes? we work hard to make sure that our gems are a safe place to work in a safe place to work out and i think we are one of the success or the government and public health england, we worked very hard with them last summer pre— the reopening to establish protocols that include a triple lock on deep cleaning, controlling numbers
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carefully so there is adequate ventilation for everybody and being in the gym, good social distancing and good discipline, so we can reassure members coming back to us absolutely with pure6ym and across the industry that gyms are safe and safe places to work and to work out, so i don't think anybody should have any qualms in that regard and that is certainly the basis on which we will be reopening next week.- reopening next week. thank you very much for your time and best of luck for the reopening of all those gems and the opening of the new ten as well! thank you copy just you copyjust a reminder of the top story, the us hasjoined the british government and urging come in northern ireland. protesters through firecrackers and police used water cannon for the first time in six years copy you can reach me on twitter, this has been a world news. thank you very much
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for your company, world news. thank you very much foryour company, i world news. thank you very much for your company, i will be back for global viewers in about five minutes time. see you very soon. bye—bye. hello. although thursday was a little less cold for many, friday plunges us back into the arctic air. in fact, we will stay with the colder air again into the weekend for many. there is certainly a chance of those snow showers and possibly wet and windy weather in the south, we will come to that in a moment. this is the weather front ushering that cold air southwards and that will push to most parts by the end of the day today. with it the brisk wind which through the night has reached severe gale force in the north, slowly easing away, but cold air means widespread frost first thing and a risk of ice because here the showers have been coming through notjust for scotland but for northern ireland, some northern fringes of england and wales as well.
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that weather front further south is a slow—moving affair. still windy, although they are easing off, the great risk of snow piling up is in northern scotland but the showers will come through thick and fast during the day. they could fall as rain, sleet, snow, hail, rumbles of thunder. further south we will have a weather front becoming slow—moving. could be sleety on high ground with this weather system as the cold air digs in but we will see crisp sunshine across the northern half of the uk through the day ahead and brightness and sunshine to the south of the weather front affording us perhaps 11 or 12 degrees but if you are stuck under the cloud all day, seven and eight is more likely. a transition day, one that feels wintry for many. the big question for the weekend is this area of cloud and rain, possible hill snow and a brisk north—easterly wind during the course of saturday and into sunday. there is still quite a bit of uncertainty as to how far north that will come but as i say it could be a spell of wet weather. a brisk north—east wind makes it feel cold and that could turn to snow over the hills. further north again the crisp sunshine continues but even with the sunshine it will be
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cold with the risk of sleet and snow showers just about anywhere because we are into the arctic air. the same is true through saturday night and sunday that slowly works out of the way but then we have arctic air right across the uk and perhaps something more organised coming into the north—west later on sunday. plenty of detail to fill in and if you have plans stay tuned to the forecast. as ever, the forecast and the warnings are online.
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good morning, welcome to breakfast with charlie stayt and naga munchetty. 0ur headlines today — hopes forforeign holidays — the government announces plans to reopen international travel, but there's criticism from airports and airlines. police respond with water cannon after coming under attack in belfast, during another night of violence in northern ireland. justin rose is four shots clear at the masters. the englishman was the star performer on the opening day at augusta, as he finished his round on seven under par.

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