tv World Business Report BBC News March 23, 2017 5:30am-5:46am GMT
this is bbc world news. the headlines: the british prime minister has condemned what she called a "sick and depraved terrorist attack" outside the houses of parliament in london. three civilians and a police officer were killed by a lone attacker, who was then shot dead. the murdered police officer, who was unarmed and guarding the gates to parliament, has been named as keith palmer. he was a8, a husband, and a father. he suffered multiple stab wounds. the other victims have not yet been named. police say they know the identity of the attacker, but have given no details. the country's top anti—terrorism officer told journalists the attack was probably motivated by islamic extremism but no group has admitted responsibiity. the injured victims included five people from south korea, two from romania, and several french schoolchildren. the lights of the eiffel tower
in paris were switched off at midnight on wednesday night as a mark of respect. tackling america's $3 trillion medical bill. president trump faces a key vote on his plan to replace obamacare. plus, robots on the rise. we report from europe's biggest technology fair on the high—flying business of drones today. welcome to world business report. a
warm welcome. we will be focusing on the day's global business agenda. we'll return to our special coverage of events in london later this hour. that is the terror attacks in westminster during the afternoon. we will talk about that in around about seven minutes or $0. we start in the us, where the house of representatives will vote later on president trump's plan to shake up the healthcare system, replacing what's known as obamacare. supporters say obamacare has given access to health coverage for millions of poorer americans. but its critics, led by president trump, say it's inefficient and ruinously expensive. how expensive? well, take a look at this. in 2015, the united states spent $3.2 trillion on healthcare. that makes it the most expensive healthcare system in the world. almost 17% of the entire us economy. to put that in context,
that share of gdp is way bigger than any other developed country. switzerland is second at 11.5%, closely followed by japan, germany, and france. as you can see the trump administration wants to cut it right back. it wants to stop fining people who don't take out medical insurance. it wants to stop forcing firms to provide insurance. and it wants to curb government funding for medicaid for low—income people. the good news, this would help fill the hole in america's public finances. the congressional budget office, which is non—partisan, says it would bring down the federal budget deficit by $337 billion within ten years. but the bad news is this.
the same office warns it would leave 2a million more americans without health insurance within a decade, 1a million as soon as next year. it's put president trump at odds with democrats, and many republicans too. the house bill ends the obamacare nightmare and gives healthcare decisions back to the states and back to the american people. these are the conservative solutions we campaigned on and these are the conservative solutions the american people asked us, as a group, to deliver. this is not about healthcare reform. this is about disease, death and suffering. mr trump, come down from trump tower, walk among
the people, and see the damage that this latest exercise in raw political power will wreak on the women, the men and the children of this country. that gives you a sense of the heated debate in the us. kate andrews is news editor at the institute of economic affairs. good morning. this is no easy task for any government. it took the obama administration a heck of a long time to get obamacare into place. and now the donald trump administration is trying to change it and "make it better.‘ give us your take. they spend 17% on your take. they spend 1796 on healthcare, more than anywhere in the world. this is a thematic. they
have a very regulated health—care system dominated by special interest groups like insurance companies. obamacare got more people onto medicaid. something like 44% of health spending in america is through government funded services. the idea that there is none is ludicrous. we are spending more on medicaid than the nhs and medicare combined. it has not been good for the middle—classinsurance premiums are continuing to write. donald trump is trying to repeal obamacare. —— rise. he wants to replace it with something else. what about the figure that critics have thrown at him. 111 million next year will be without healthcare. 3a million in ten years‘ time. there is no easy a nswer to ten years‘ time. there is no easy answer to this problem in the united states. that is only the case if it
is only repealed, not replaced. it doesn‘t seem that will happen. it is not politically viable. ijust hope that the two political parties can come together and realised sometimes it is about making sure we have a universal guaranteed access to healthcare. doing it through these massive subsidies in the state has been inefficient to the people receiving those subsidies. it is a problem the democrats have failed to address. what about the insurance sector, the drug sector, the pharmaceutical sector? they need eve ryo ne pharmaceutical sector? they need everyone on board for this to work. my everyone on board for this to work. my concern is who will take the insurance companies on? under obamacare, insurance companies were the best recipients of funding. their subsidies skyrocketed. that is
the question on the table, who will ta ke the question on the table, who will take them on? maybe it is president trump. who knows? and keep coming in and giving us your analysis. this problem has impacted markets for many days. we will go to singapore and follow rico hizon who is following the markets for us. it is the politics and deadlock in washington that is causing these headaches for markets globally. they are concerned. if you cannot make this change, what about future reforms and taxes? that is right. many promises during the donald trump campaign. it is moving at a snails pace. that is why we are cautious over concerns that donald trump‘s agenda is in doubt.
nevertheless, look at the asian markets during this hour. they are gaining slightly this session after wednesday‘s retreat as investors picked up oversold shares. injapan, the nikkei is flat despite a weaker yen. that means a brewing political issue. that is because of shinzo abe and his wife and the state owned land bought at a fraction of its price to build an elementary school. and the chinese markets, china and hong kong, taiwan, a touch higher. they are waiting on a rate decision from taiwan‘s bank. the us has gone down a bit over this indecision over healthcare allah sees. thank you very much, rico hizon. —— policies.
other news now. us telecoms firms at&t and verizon have withdrawn all non—search advertising from google, as have car rental company enterprise and pharmaceutical giant gsk, according to the times newspaper. an investigation by the times found major brands were appearing next to youtube videos promoting extremist views, generating revenues for the creators. the uk—based investigation led more than 250 brands to pull their advertising. the company has apologised and promised better tools for advertisers. volkswagen will return to the unsecured bond market later when it tries to raise as much as five billion euros from investors. it‘s the first such bond issue since the diesel emissions scandal which has cost the company more than $20 billion in fines in the us. let‘s move to the world of tech now.
and unmanned aerial vehicles, or drones, are fast becoming big business. the industry is worth $2 billion today, and is forecast to soar to some $115 billion in 2020. but after a series of widely reported accidents and near misses, drones face an array of legal restrictions across the globe. joe miller reports from the cebit tech show in hannover. a buzzing contender in a battle for the skies. one of several hundred reports for witnesses to enjoy. as long as you don‘t mention the "d" word. this is not a drone. it is a flying vehicle. it is a combination ofa flying vehicle. it is a combination of a balloon, a plane, and flying vehicle. it is a combination ofa balloon, a plane, and a helicopter. it can take off and land without any runway. it can fly forward like an aeroplane after it
switches to its wings. and it can carry heavy weights. you can deliver water and go through a minefield and removed mines. you can remove pollution as well. many options. exhibits like this simulator are focused on how much fun you can have with drone flight. but after a series of near—misses at major airports, the safety and regulation of drone flight is top of the agenda. one belgium start up feels it can help. this turns it off if it is in it can help. this turns it off if it isina it can help. this turns it off if it is in a certain location. you can choose a drone you want to fly with and the application will tell you if you are allowed to ply and in what type of airspace. —— fly.
you are allowed to ply and in what type of airspace. -- fly. it is not just for amateurs. no. it goes from amateurs to professionals. it can help in firefighting, et cetera. as drones get cheaper and cheaper, the temptation to take to the air gets ever stronger. but perhaps the future is in the hands of well—trained pilots. joe miller, bbc news, hannover. you are with bbc news. we will remind you of the top stories. the prime minister theresa may vowed that britain would never give in to terror as she addressed the country. let‘s hear what she had to say: these events provide a particular reminder of the exceptional bravery of our police and security services who risked their lives to keep us
safe. once again today, these exceptional men and women ran towards the danger, even as they encouraged others to move the other way. on behalf of the whole country, i want to pay tribute to them and to all of our emergency services for the work they have been doing to reassure the public and bring security back to the streets of our capital city. that they have lost one of their own in today‘s attack only makes their calmness and professionalism under pressure all the more remarkable. tomorrow morning, parliament will meet as normal. we will come together as normal. we will come together as normal. and londoners, and others from around the world who have come here to visit this great city, we‘ll get up and go about their day as normal. —— will. they will board
their trains, they will leave their hotels, they will walk the streets, they will live their lives. and we will all move forward together, never giving in to terror, and never allowing the voices of hate and evil to drive us apart. in 15 minutes you canjoin to drive us apart. in 15 minutes you can join breakfast. charlie to drive us apart. in 15 minutes you canjoin breakfast. charlie stayt and sally nugent will be the presenters. they are live from central london with news about the london terror attacks, bringing all the news from scotland yard and an update from king‘s college london, where some injured were. the top stories this hour. police in london say wednesday‘s attack outside the houses of parliament — which killed four people and injured a0 others —