Global Business Europe on 11/07/2024
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00:30Live from London, this is Global Business.
00:38Hello and welcome to the program. I'm Robin Dwyer.
00:41And I'm Sally Burdett. Our top stories.
00:44Hopes of a rate cut in the United States.
00:47Inflation hit 3% in June.
00:50And consumer prices actually fall.
00:53The UK economy grows faster than expected
00:57as regulators relax the rules to attract more IPOs to London.
01:02Palestinians flee Gaza City
01:05as Hamas warns Israel's latest assault could derail ceasefire talks.
01:11And Kenya's president sacks his entire cabinet
01:15after recent deadly protests over tax rises.
01:22US inflation has fallen faster than expected,
01:26boosting hopes of a cut in interest rates.
01:28The annual rise in the cost of living dropped to 3% in June
01:32for the first time in 12 months,
01:34with consumer prices actually falling compared to May.
01:38It's the third month in a row that inflation has gone down.
01:41Investors and borrowers want the Federal Reserve to cut interest rates,
01:45which have been at a near two-decade high since last year.
01:48Our correspondent Mitch McCann is in New York and joins us now.
01:53Hello Mitch. So what are the key takeaways from this inflation data?
01:59Well, good afternoon from New York.
02:01One of the biggest headlines from this morning's data here in the US
02:04is that consumer prices have fallen.
02:06In fact, they have fallen for the first time since the COVID-19 pandemic,
02:10which of course is significant news for all Americans.
02:13So if we look at the figures again,
02:15consumer prices dropped 0.1% on a monthly basis,
02:18helping bring the annual rate of inflation to 3%,
02:22down from 3.3% in May,
02:24according to the US Bureau of Labor Statistics.
02:27Now for context, if we look at this in recent years much wider,
02:31today's result represents a significant drop in CPI over time,
02:35which reached a peak of course back in 2022 of 9.1%.
02:40And the fact prices are falling for Americans
02:42is obviously positive news for many,
02:44and we are in the middle of course of an election campaign
02:47here in the US where prices at both the supermarket and the gas station
02:51have become a central issue for voters,
02:53and many feel their lives are becoming more and more unaffordable.
02:57So they may feel that these numbers are trending in the right direction for them.
03:01We've also seen a statement from the US President Joe Biden
03:05about these numbers in the last short while,
03:07and he says that today's report shows we are making significant progress
03:10fighting inflation.
03:12He added that wages are rising faster than prices,
03:15and that his administration has created 15.7 million jobs.
03:19So no doubt the state of the economy is a significant consideration
03:23for those voters ahead of November's election.
03:26So of course the question we've been asking all week is
03:29are we getting a step closer to rate cuts in the US?
03:36Yeah, and that conversation is certainly ramped up after these numbers today.
03:39It's important news for the Federal Reserve
03:41who are tasked with making a decision on rate cuts,
03:44which if implemented are likely to make borrowing money less expensive here in the US.
03:49And these numbers make cuts more likely, according to experts this morning.
03:53Now the Fed has a 2% goal for inflation,
03:55but its Chair Jerome Powell has told lawmakers in Washington
03:59in the last couple of days it doesn't need to hit 2%
04:02to reach that number for rate cuts.
04:05Powell told officials you don't want to wait until inflation gets all the way down to 2%,
04:10because inflation has a certain momentum.
04:12And he added if you waited that long, you probably waited too long,
04:15because inflation will be moving downward, what they don't want.
04:19But experts this morning in the US say that that rate cut is more likely now,
04:23and the Fed will meet next at the end of this month,
04:26where a decision on that could be imminent.
04:29So we'll have to wait and see,
04:30but more likely to see rate cuts after these numbers this morning.
04:33All right, thank you so much.
04:34Mitch McCann joining us from New York.
04:38Well that's the picture in the United States.
04:40In the UK, the economy grew faster than expected in May,
04:43helped by growth in services and house building.
04:46GDP rose 0.4%, double the 0.2% that analysts had expected.
04:53The strong performance is a boost for the new government.
04:56That means the Bank of England may delay cutting interest rates.
04:59Let's talk now to Chief Economist and Global Strategist
05:02at ADM Investor Services International, Mark Osfold.
05:05Good to see you again, Mark. Thanks for joining us.
05:07So looking at these figures,
05:09we saw growth double what analysts had expected in the UK.
05:13So what's happened?
05:16Well, in part, in May, it above all reflected a recovery
05:21from the bad weather impact in April where GDP had been flat.
05:27But what it does is basically keep second quarter GDP
05:32on course to repeat that strong performance,
05:35well, relatively strong performance of 0.7% in Q1.
05:41The strength was above all driven by services such as professional,
05:47scientific and technical, a rebound in retail and wholesale,
05:52and construction.
05:54Both of those had actually been very, very weak in the April report.
06:00So there's a little bit of catch-up going on there.
06:04As far as the momentum goes, it's stronger than expected.
06:08But I always think one needs to keep this in perspective
06:12insofar as we've obviously seen this week
06:15the Barclaycard consumer spending numbers
06:18and the BRC retail sales numbers for June, i.e. the month after,
06:22which were weak, both fell in year-on-year terms.
06:27So there is a lot of volatility which is weather-induced.
06:32And I still feel that underlying everything
06:36is some general feeling of cost-of-living pressure still being there.
06:43But with the stability of a new government,
06:46perhaps people will feel that things are turning out somewhat better.
06:51And that could set the UK economy fair for reasonable growth
06:56in the second half of the year.
06:58Well, let's talk about that new government in the UK.
07:01The new finance minister has said that economic growth is a national mission.
07:06How are they planning to do it?
07:09Well, there are a lot of measures.
07:12But in terms of fiscal terms, there's not a lot of room for maneuver.
07:17They promised not to raise taxes,
07:20but the prospect of any tax cuts are not there.
07:23They want to increase home building to a pace
07:26which, to be quite honest, is not really achievable.
07:30They're talking about 300,000 new homes per year.
07:34We haven't seen the best level since 1997,
07:38and that was the level in this year was 250,000.
07:42And for that to happen, they will basically, not only for this,
07:47but also for all the things they want to do
07:49in terms of speeding up the energy transition,
07:52getting private investment mobilized for the energy transition,
07:56they really need to speed up the planning process.
08:00And that's going to be a lot more complicated.
08:03They will also need to see some changes in terms of land use reform.
08:08None of this is easily done at speed.
08:12So, yes, absolutely admirable.
08:14And I think in terms of how they've approached this,
08:18in terms of giving the impression of hitting the ground running,
08:21by above all having their first cabinet meeting on the day after the election,
08:26but at the same time also going through an exercise in expectations management,
08:32namely saying we've got a lot to do
08:35and there are a lot of difficult choices to make, which there are.
08:39It highlights that going for growth is not something which is going to...
08:48There is no switch to flick.
08:51There are no fingers to flick to suddenly turn the lights on
08:55and the U.K. economy is going to start outperforming others.
08:58It may well outperform a lot of economies in the Eurozone,
09:02particularly France and Germany,
09:04but that's not really much of a benchmark at the moment,
09:07given growth in both countries is very sluggish.
09:10Well, I want to ask you about something else which is looking for growth,
09:13which is listings in the U.K., IPOs.
09:16There's been a big shake-up of the rules to try and make it easier
09:19for companies to list on the London Stock Exchange.
09:22Why now and is it going to work?
09:25Well, first of all, this was actually basically something
09:28which was outlined by the previous government.
09:32Why now?
09:34Because there's this feeling that London as a financial center
09:39has to some extent lost a lot of traction above all to the U.S.,
09:44to a certain extent to Asia,
09:47simply because Asia is a big growth region,
09:51and they want to try and get a piece of the action above all
09:55in the tech sector to make things more attractive
09:58to companies to come and list in London.
10:01Nevertheless, I wonder how much success they will have with it.
10:06It's certainly something which would be positive for the U.K. economy
10:10in terms of allowing more companies to float,
10:14given that the pool of companies that have floated recently
10:18has been very, very meager.
10:21Mark, good to talk to you as always. Thank you for joining us.
10:23That's Mark Oswald from ADM Investors Services International.
10:27The EU has accepted Apple's pledge to open its tap-to-pay iPhone payment system to rivals.
10:34This is to resolve an antitrust case and avoid a potential $40 billion fine.
10:40The European Commission has previously accused Apple of abusing its position
10:45and breaking competition law by limiting access to its mobile payment technology.
10:51The U.K.'s busiest airport will be forced to cut landing fees.
10:55Charges for planes arriving at Heathrow Airport
10:58will be capped at just over $30 per passenger by 2026.
11:02Heathrow had originally pushed for $52 as it tries to recoup pandemic losses.
11:08The intervention by regulators follows a lengthy dispute between the airport and airlines.
11:14Shares in Delta Airlines are lower after it reported a nearly 30% drop
11:20in second quarter net income of $1.3 billion.
11:25Despite strong summer travel demand, Delta said it was hit by higher costs and lower base fares.
11:31The airline is also predicting a lower profit than Wall Street expected for the third quarter.
11:38The operator of Japanese fashion giant Uniqlo has raised its full-year net profit forecast
11:44for what would be its third straight year of record gains.
11:47Fast Retailing says it's on track to make $2.26 billion up by more than $280 million on its previous estimate.
11:56Because of strong sales at home aided by a surge in duty-free sales from tourists
12:01taking advantage of the yen falling to a 38-year low.
12:05China is building nearly twice as many solar and wind projects than the rest of the world combined.
12:11This is according to a new study.
12:13The report by Global Energy Monitor says two-thirds of the world's wind and solar production is in China.
12:20It says the country is now on track to reach 1,200 gigawatts of renewable capacity by the end of 2024.
12:28That is six years ahead of Beijing's target.
12:32The UK's Energy Secretary has banned new drilling for North Sea oil with immediate effect.
12:38The regulator had been due to issue licences to explore new fields,
12:42but these have been cancelled by Ed Miliband, who is part of the incoming Labour government.
12:47Companies which have spent millions bidding for the new licences could now take legal action.
12:56The German Automotive Industry Association has called on the European Commission
13:01to abandon its proposed tariffs on electric vehicles manufactured in China.
13:06A spokesperson for the group says the plan would hurt the German market and its car industry.
13:13Well, in general, you got to look at Germany as being a very export-oriented country.
13:18Like, three from four cars made in Germany are being exported.
13:22In China itself, we have also production that is going to be exported.
13:27So, the thing is that from the tariffs that are right now being announced,
13:32also German manufacturers that are having joint ventures with Chinese manufacturers are affected.
13:38For example, they have different models that they build.
13:42In China that will be exported that are being on high tariffs now.
13:47So, that of course needs to be prevented.
13:51That is not a solution that doesn't make it better for the customer.
13:55It will make cars more expensive.
13:57And it is, as I said, the start of maybe a conflict that will go broader.
14:02So, we want to be active on the Chinese market.
14:05We want to produce there.
14:06And of course, if Chinese companies want to produce in Europe and build up factories here, that's also OK.
14:12I think we all have to always remind us that we have the WTO, the World Trade Organization.
14:17We have rules and we should follow those rules.
14:20And whenever there is somebody who is not following the rules, yes, let's talk about it.
14:24Let's find a solution.
14:25But let's not go straight to the tariffs and start a bigger conflict.
14:30You're watching CGTN Still Ahead.
14:34China accuses NATO of maliciously trying to escalate tension
14:38after the alliance accused Beijing of enabling Russia's war effort.
14:49Ever wondered what's the difference between a bear and the bull market?
14:54Where are the cash cows?
14:56And who are the lame ducks?
15:00What exactly are black swans, grey rhinos and unicorn companies?
15:11Make sense of it all with Global Business, only on CGTN.
15:18I think it should be more public oppression.
15:22I would like to hear more the voice of the developing countries.
15:28Globalisation has lifted more than a billion people out of poverty.
15:33A great transition has to happen.
15:35This is a necessity.
15:38For China and the United States are important powers in the world.
15:44What unites us is much more than what divides us.
15:49And I believe China is committed to this agenda.
15:52Join me, Juliette Maran, to set the agenda at these times every weekend on CGTN.
16:23This is one of the hardest hit towns in the region.
16:27The world today, every day on CGTN.
16:48Welcome back.
16:50Residents trapped in their homes, bodies lying in the streets.
16:53These are some of the reports coming from Gaza City
16:56as Israel pushes on with its latest assault.
17:00Palestinians have accused Israeli snipers of shooting civilians trying to leave the city
17:05a day after Israel ordered residents to evacuate.
17:09Hamas says the offensive could derail the latest efforts to end the conflict.
17:13Israel describes Gaza City as a dangerous combat zone
17:17saying Hamas fighters have regrouped there.
17:20Our correspondent Akram Alsasseri reports from Gaza.
18:18Two main areas in the east and the west of the Gaza Strip
18:22that has also been witnessing summary killing according again to the Palestinian eyewitnesses.
18:27Around 10 bodies were retrieved from As-Sana'a area.
18:31Whole families are trapped and appealing for the Palestinian Red Cross and Society
18:36and the International Committee of the Red Cross
18:38for the sake of just identifying their whereabouts and also helping them.
18:42But it is evident now they will be facing their fate
18:45without any international or local organization able to help them.
18:49Throughout the Gaza Strip also, in Gaza Central area, in Rafah and Khan Younis
18:53there were some incidents that took the life of around 10 or 11 Palestinians in the last few hours.
18:59In the last 24 hours around 50 Palestinians were killed
19:03and it is expected that the number of people killed in this day would be much higher.
19:07The destruction of the homes is still continuous,
19:10not only in Gaza, in the Shajarian neighborhood or in the Zeitoun neighborhood
19:13but also far to the south of the Gaza Strip in the Rafah area
19:17where the bombardment is still continuous
19:19and the number of people who are killed and injured is still increasing.
19:23That's Akram Alsatry in Gaza.
19:25Meanwhile, the Israeli military says the country has been attacked by several drones from Lebanon
19:31with one person said to be critically injured.
19:33Our correspondent Jonathan Regev joins us now from Tel Aviv.
19:36So Jonathan, talk to us about these drone attacks coming over from Hezbollah, I would imagine, in Lebanon.
19:44Yes, Hezbollah has a very large number of drones
19:49and it's using it since the conflict on the northern border began on October 8th.
19:55And Israel is finding itself in a problem here
20:00because intercepting these drones and UAVs
20:03is turning out to be much more difficult than intercepting the rockets.
20:08If the Iron Dome stands at roughly 92-93% of intercepting rockets
20:15and missiles and rockets fired towards populated areas,
20:19as far as UAVs, the numbers are smaller, 60-70%.
20:23That means that still, when Hezbollah fires tens of UAVs at once,
20:28many of them actually make impact and hit.
20:32And it's quite a problem.
20:36Those drones fly very low and they spend a short time in the air
20:42as the distance from the place where they're fired from in Lebanon
20:46towards Israeli communities is very short,
20:48meaning they spend very short time in the air, they fly very low,
20:52they're difficult to detect, they're difficult to intercept
20:55and the percentage of those intercepted is far lower than when compared to the rockets.
21:00And Hezbollah has learned this quite well.
21:03They understand very well that Israel is not able to intercept
21:07maybe the majority of the UAVs, yes,
21:12but still tens of them make their way when a larger barrage is fired
21:17and it turns out to be quite a problem for Israel.
21:19Against that context, what's going on in the north
21:22and of course then the IDF's ongoing attacks in Gaza,
21:26all the more important for these ceasefire talks
21:29to finally bear fruit some positive signs from the United States
21:33that Israel and Hamas may have agreed a basic framework.
21:36Anything official at this stage, Jonathan?
21:39Yes, we've actually heard a statement from the White House
21:44coming in the last hour saying that there is progress,
21:48that there are positive signs and things are looking better
21:51than they looked in the previous months.
21:55This is a statement coming from the White House in the past hour.
22:00Of course, such a statement would not have come out
22:03unless there was something behind it.
22:05We know that there are quite intensive talks over the past few days.
22:10There were negotiations in Doha, Qatar on Wednesday
22:14and Israeli delegation is meant to fly to Cairo for the continuation of those negotiations.
22:20We're speaking of two different paths.
22:22One is between Israel and Hamas regarding a hostage deal.
22:25The other is between Israel and Egypt regarding control of what is known here as the Philadelphia corridor
22:31which separates the Gaza Strip from Egypt, from the Sinai Peninsula.
22:35In both of these paths, as far as we understand, progress has been made.
22:40That still does not mean that we will see a deal coming to fruition tomorrow morning.
22:45There are still obstacles, there are still differences,
22:48especially between Israel and Hamas
22:50and especially on the issue of what happens next,
22:53what happens after, for example, the first stage of the hostage deal.
22:59Can the negotiations on the second stage go on and on
23:03until an indefinite time as Hamas is asking
23:07or will there be a deadline as Israel is asking?
23:10Will Israel be allowed to continue with the war
23:14or will the ceasefire become permanent?
23:17Many questions still to solve but it seems that there is some progress.
23:22This according to American sources.
23:24Clearly more positive signs in the sense than we've seen in previous months.
23:28Thank you so much for that update.
23:30Jonathan Regev there in Tel Aviv.
23:40China has strongly rejected accusations by NATO
23:44that it's helping Russia to maintain its military operation in Ukraine.
23:48Beijing criticized a draft communique from the alliance
23:51saying NATO was hyping up an alleged threat from China
23:55and provoking regional tension.
24:00It makes no sense and comes with malicious intent.
24:03China's objective and impartial position
24:05and constructive role on the issue of Ukraine
24:07have been widely recognized by the international community.
24:11Without any evidence NATO has continued to spread
24:13false information fabricated by the United States
24:16and openly discredited China.
24:18This provokes China-EU relations
24:20and undermines China-EU cooperation.
24:23Let's talk to our correspondent Benji Haya
24:25who's in Washington D.C.
24:27So Benji what's been happening at the NATO summit?
24:35Well this is a critical summit
24:37not least because NATO according to its own comments
24:40say it's facing the biggest security challenge
24:43that the pact has faced in its 75 year history.
24:46And then you couple that with what is frankly
24:49a domestic political crisis here in the United States
24:52with increasing calls for Joe Biden to step down as a nominee
24:56and fears certainly in this room
24:58about what a Donald Trump presidency could bring to NATO.
25:01More on that in a moment.
25:02The underlying mission for this summit at least
25:06is to continue that support for another year at least
25:09to the war-torn nation of Ukraine.
25:12Extra support in regard to air defenses.
25:15We're told that F-16 fighter jets
25:17are already on their way to Kiev.
25:20Membership which is sort of the big prize
25:23of President Volodymyr Zelensky
25:25that is off the table for now
25:27but we're having repeated reassurances
25:29from the 32 member states of this now expanded defense pact
25:33that it will continue to have Ukraine's back
25:35as it fights off this Russian invasion.
25:38And ultimately this is also an exercise in future-proofing
25:41those commitments against any potential change
25:44in the administration stateside or otherwise.
25:48In past moments as well, Ukraine being the discussion
25:51but also plenty of deliberations
25:53about what's going on in the Indo-Pacific.
25:56This is a NATO...
25:58Representatives from Australia, New Zealand, South Korea, Japan
26:03not necessarily members of this alliance
26:06but there is, I think, a general sentiment being spread here
26:11that these sorts of things being discussed about Western security
26:14go beyond just North America and Europe
26:17and that these nations need to work together
26:20and cooperate to fight off those perceived threats
26:23in that part of the world as well.
26:26Benji, I think we've had some problems with our sound here
26:29so unfortunately we're going to have to leave it there.
26:31That's our correspondent Benji Heyer in Washington, D.C.
26:34All right, let's move to the story.
26:36Representatives from the so-called BRICS nations
26:39are in the Russian city of Saint Petersburg
26:41for a parliamentary forum.
26:43Among them is Russian President Vladimir Putin
26:46who spoke at the opening of the event.
26:48BRICS is a grouping of major emerging economies
26:51including China, Russia, India, Brazil and South Africa.
26:55Talks will focus on the role of parliaments
26:57within international relations.
26:59Our correspondent Dasha Chernysheva reports from Moscow.
27:03Well, the Russian president has sent his warm welcome
27:07to the legislators from the BRICS states.
27:09He also praised the work of this body.
27:12He said it was very important that the lawmakers
27:15from the BRICS countries have gathered in Saint Petersburg
27:18and he said that these discussions that are taking place
27:20are very important for strengthening the international authority
27:23of the BRICS countries.
27:25He also said that it is possible that in the coming future
27:29the BRICS bloc could actually start to have
27:32its own parliamentary body.
27:35That is obviously the work for the future
27:37but this is the possibility that could be taking place
27:40in the years to come as the interest in the BRICS bloc
27:43is growing among the international community.
27:46The Russian president has also said that the work
27:48within the BRICS group is based on the taking into account
27:51of mutual interest and the respect of the countries
27:54that are members of this group.
27:56He also said that one of the priorities of the group
27:59at the moment is enhancing the economic development
28:02for the prosperity of the countries that are member states
28:05and that are working with the BRICS bloc.
28:08He said that the number of countries that are willing
28:10to become permanent members of the BRICS is growing
28:14but at the moment Moscow, as it is chairing the group this year,
28:19is working on incorporating the countries that have recently
28:22joined the bloc starting the 1st of January this year.
28:25So certainly the Russian president has expressed hope
28:28that the work of the BRICS lawmakers will only be serving
28:31the strengthening of this bloc and its international authority.
28:36Dasha, Putin has met China's top legislator Zhao Lijian
28:41on the sidelines of this forum.
28:44That's right and we understand that the Russian president
28:47told him that all the arrangements that have been reached
28:49between him and the president of China, Xi Jinping,
28:52are slowly and steadily being implemented.
28:56He said that was very important.
28:58The partnership between Russia and China is important for Russia.
29:01He also has said that the work of the legislative bodies
29:05of these two countries is benefiting these two states
29:09as well as the stability worldwide.
29:11He has also said that China's president is expected in Russia
29:15in October when the BRICS countries will be meeting
29:18in the city of Kazan for the leaders' summit.
29:21On his part, the Chinese legislator has also said
29:25that the Chinese republic was also looking at strengthening
29:30and deepening ties with Russia and said that the Chinese people
29:34were supporting Putin's being elected for the new term.
29:40So certainly a very important meeting, yet another one
29:43between the officials from Russia and China that is proving
29:47that the two countries do have the no-limits partnership
29:50and seek to deepen their ties wherever they can.
29:54Here's Dasha Chernyshova in Russia.
29:56You're watching CGTN, still ahead.
29:59UK households face higher bills, but by how much?
30:02As water companies are told to clean up their act.
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42:01Thank you so much Ayola Abdavad.
42:03Now let's stay with this issue.
42:05Earlier I spoke to Susanna Streeter
42:07from financial services company
42:09Hargreave Lansdowne.
42:11It is a very significant move.
42:13Actually the first of its kind
42:15for a water company.
42:17And it just shows how seriously
42:19Ofwa is now taking
42:21the precarious situation
42:23of Thames Water.
42:25We just heard earlier this week
42:27that the company was able to
42:29tap funding for another
42:3111 months.
42:33But obviously the clock is ticking
42:35and that reservoir of available
42:37cash is shrinking fast.
42:39Now there had been high hopes
42:41that its investors including
42:43Canadian Pension Fund
42:45and Sovereign Wealth Fund
42:47and China and also
42:49the Middle East would actually stump up
42:51more money, more longer term funding.
42:53But they held back
42:55because there had been
42:57this row really
42:59with the regulator over just
43:01to what extent bills could rise
43:03how much money they could get from
43:05customers to enable them
43:07to invest in
43:09repairing the infrastructure
43:11that it so badly needs but also
43:13shoring up its financial situation.
43:15The water companies are all
43:17meeting with the new Labour government
43:19currently. Is this regime
43:21that the Thames Water system is under
43:23likely to be a bit of a test case
43:25for the other companies?
43:27Well yes and we know as well that
43:29Southeast Water is facing
43:31financial difficulties as well.
43:33The other listed water
43:35companies are in better shape
43:37but the bosses of all the water
43:39companies are meeting with the government.
43:41It really wants to try and assess
43:43just how fragile
43:45other companies are
43:47because there's a massive public outcry
43:49over the levels of raw sewage
43:51being pumped into the
43:53rivers and seas across the UK.
43:55The infrastructure is creaking.
43:57There hasn't been enough investment.
43:59The listed water companies have been
44:01under more scrutiny. They have to of course
44:03publish their
44:05quarterly results. They come
44:07under a lot more scrutiny.
44:09Those that aren't listed
44:11it seems as though there has been a lack of transparency
44:13and they've been highly
44:15criticised for allowing debt piles
44:17to build up
44:19while they've been taking big dividends
44:21out of the companies.
44:23How much of the problems
44:25facing Thames Water and other
44:27indebted water companies
44:29is actually about greed
44:31and keeping investors happy
44:33at the expense of
44:35waterways and the consumer?
44:37Yes they have been highly
44:39criticised for the amount
44:41of dividends paid out
44:43over the years and the lack of investment
44:45in infrastructure and this is why
44:47we are currently at this situation
44:49where customers are facing increases
44:51in their bills.
44:53The Labour government said during
44:55the campaign when the MPs
44:57were out campaigning that they were going to get tougher
44:59on the water companies. They were going to
45:01stop the number of bonuses
45:03that chief executives and other
45:05executives could get
45:07particularly if their
45:09firms were shown
45:11to have been consistently
45:13leaking sewage into
45:15the waterways.
45:17It is a very very difficult
45:19situation though for the government
45:21to deal with because on one hand
45:23it doesn't want to
45:25re-nationalise these companies.
45:27That would be a huge bill
45:29for the government to take on.
45:31So this is why Ofwat is putting
45:33forward this kind of
45:35oversight turnaround regime
45:37and we could see the likes of
45:39Thames Water being broken up
45:41into a number of separate companies
45:43and even potentially parts of the business
45:45to try and
45:47build up that funding which
45:49is so crucially needed.
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52:07dans certaines régions de Pékin, sans chauffeur humain.
52:09C'est une partie d'un plan pour créer des so-callés SMARTies
52:12et moderniser les zones urbaines de la Chine.
52:15Un correspondant, Jung Chunying, a pris un vol.
52:20Un taxi sans chauffeur à la roue.
52:23Oui, c'est possible.
52:25Par Deuce Apollago, c'est un service de conduite autonome chinois
52:28qui a été lancé en 2017
52:31dans le quartier urbain de Pékin, à Yizhuan ou Yitao.
52:34Ces so-calles sans chauffeur font des avancées
52:37sur la voie vers l'opération commerciale.
52:39Et aujourd'hui, j'aimerais l'essayer.
52:42Tout ce qu'il me reste à faire, c'est d'entrer
52:44les dix derniers numéros de mon numéro de téléphone enregistré.
52:49Et puis, la porte s'ouvrira automatiquement.
52:54Vous voyez ? Personne n'est à l'intérieur, sauf nous.
52:57Maintenant, on fastonne nos boutons et on appuie sur le bouton.
53:03Waouh, ça bouge !
53:07Waouh !
53:09Sur la route, le taxi robot a fait des tournées,
53:15a changé de longueur pour prendre une autre voiture
53:18et a négocié son chemin autour des rues.
53:21Et il y a un bouton qui peut être utilisé pour appeler pour aide
53:24en cas d'urgence.
53:26Et maintenant, Pékin a permis à de nombreux taxis robots,
53:30y compris l'Apollo, d'offrir des services de véhicules
53:33à l'aéroport international de Pékin.
53:37Waouh, nous sommes arrivés, en sécurité.
53:40Ça nous prend environ dix minutes pour cinq kilomètres,
53:43comme pour un taxi ordinaire.
53:46De la sanitation à des véhicules de sécurité,
53:49des bus à des voitures,
53:51les véhicules auto-drivingés deviennent une partie
53:54de la vie quotidienne des habitants.
53:56Et tout cela est inséparable de la détermination chinoise
53:59pour améliorer les réformes,
54:01tout en améliorant la confiance en soi-même
54:03et la force de la science et de la technologie.
54:05Au cours des dernières années,
54:07la Chine a fait des investissements significatifs
54:09dans la technologie,
54:11visible dans le nombre de talents,
54:13des contrats et des patentes dans le domaine.
54:15En 2023, il y a eu 950 000 contrats technologiques
54:19signés, avec un volume de transactions
54:22de plus de 6 trillions de yuans,
54:24marquant plus de 28 % d'augmentation
54:26année après année.
54:28Les patentes d'investissement autorisées
54:30ont atteint plus de 920 000,
54:32un augment de plus de 15 % année après année.
54:35La Chine est une innovation extrêmement développée.
54:38La croissance chinoise dans le futur
54:41sera conduite par la technologie et l'innovation.
54:44C'est la seule solution.
54:46C'est ainsi que la Chine va vraiment
54:49s'échapper de l'escalade moyenne
54:51et devenir une nation développée
54:53avec un haut niveau de revenus par capita.
54:56À l'avance, le gouvernement chinois a proposé
54:58d'allocuer 370 millions de yuans
55:01pour la science et la technologie en 2024,
55:04en tant que partenaire de ses efforts
55:06pour l'innovation.
55:07Et la ville d'Itiang, en Pékin,
55:08est prête à suivre la mission.
55:10Nous allons implémenter plus de scénarios
55:12d'application pour la conduite
55:14autonome collaborative.
55:16Nous allons aussi accélérer la recherche
55:18et le développement des technologies fondamentales,
55:20rassembler plus de talents pour la recherche scientifique
55:23et atteindre plus de résultats scientifiques.
55:27C'est espéré que le mouvement créera
55:29plus de potentiel de marché
55:30qui bénéficiera aux compagnies technologiques chinoises
55:32comme Baidu ou Apollo,
55:34mais aussi d'améliorer l'économie du pays
55:36et d'améliorer la vie des gens.
55:39Zhang Shuiying, CGTN, Pékin.
55:43De la nouvelle à l'ancienne,
55:45le plus grand et le plus complet
55:47fossile de Stegosaurus
55:49sera vendu à l'auction
55:51Ã New York la semaine prochaine.
55:52Apex, comme le dinosaure est connu,
55:54a été découvert à Colorado en 2022.
55:57Il est de 3,35 mètres de haut,
56:00plus de 6 mètres de long
56:02et environ 70 % complet.
56:05Les restes sont expérimentés
56:06pour vendre entre 4 et 6 millions de dollars,
56:10ce qui le rend un des dinosaures les plus valables
56:12de tous les temps pour atteindre le marché.
56:15Et enfin, un athlète estonien
56:17est devenu la première personne
56:19à traverser l'étranger de Messina en pied.
56:22Jean Rousseau a traversé une ligne de pied
56:24de 3,6 kilomètres entre la Sicile
56:27et l'Italie.
56:29La croissance a duré plus de trois heures,
56:31mais Rousseau est tombé
56:33à seulement 80 mètres de la fin,
56:35ce qui signifie qu'il a perdu
56:36le record mondial
56:37pour la longueur de la ligne de pied la plus longue.
56:40D'accord,
56:41je vais vous donner une nouvelle annonce.
56:42L'espoir d'un coup de taille dans les Etats-Unis.
56:45L'inflation a atteint 3 % en juin
56:47et les prix du consommateur ont diminué.
56:50L'économie du Royaume-Uni croît plus vite que prévu
56:53car les régulateurs relâchent les règles
56:55pour attirer plus d'IPOs à Londres.
56:58Le président du Kenya a cassé son cabinet
57:00en suivant les récents protestations
57:02contre les rivalités de taxes.
57:05C'est tout pour Global Business Europe.
57:06Merci d'avoir regardé.
57:07On se revoit bientôt sur CGTN,
57:08c'est Effort Alive.
57:09On se revoit demain à la même heure,
57:11au même endroit.
57:12A tous les équipes de Londres,
57:13au revoir.
57:20Sous-titrage Société Radio-Canada