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tv   Business Briefing  BBC News  February 23, 2018 5:30am-5:46am GMT

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this is business briefing. i'm david eades. we find out what it all means the price of next holiday. shares in the owner of snapchat plunge, as celebrity kyliejenner says she just doesn't use the app any more. and on the markets, shares in asia bounce back, as fears of faster interest rate rises in the us begin to ease. one of the world's biggest airline groups, iag, releases its latest numbers in the next couple of hours. international airlines group owns british airways, iberia, vueling, and aer lingus, and is hoping to benefits from a shake—up amongst european carriers and rising fares. it's boss has been upbeat in what's been a turbulent
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period for airlines. last year, monarch became the third european carrier to collapse, following air berlin and alitalia. it's one of the factors helping iag, along with improving fares after a spell which saw low fuel prices force airlines to flood the market with cheaper tickets. and last was particularly tough, iag suffered a major it collapse that stranded 75,000 passenger and cost iag $103 million. the airline launched a budget airline called level last year, offering fares from barcelona to several us cities for $137 one way. this transatlantic market, the most lucrative in the world, saw budget carriers boost capacity on these routes by 68% last summer. with me is daniel roeska, transport analyst at bernstein research. thank you forjoining us. let us
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start on what you can expect. generally the picture looks very rosy for iag. absolutely. what we're seeing is that the trading is exceptionally good. signal factors are up. you mentioned the mike mack consolidation. there is out of the uk have temporarily gone up for iag. —— ——monarch. uk have temporarily gone up for iag. -- --monarch. seeing airlines like barataria and -- --monarch. seeing airlines like ba rataria and monarch -- --monarch. seeing airlines like barataria and monarch disappear, it does not take long. in the third quarter we will see the market quarter we will see the market quarter being observed... it takes a while. but by the end of the year we will be passed that and everyone will be passed that and everyone will have built up to capacity
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again. we were having a discussion about ticket prices. this instinct if feel that they have gone up. you're suggesting that perhaps they happen. in the first quarter and fourth quarter they have gone. ryanairand fourth quarter they have gone. rya nair and easyjet reported. fourth quarter they have gone. ryanair and easyjet reported. we have seen quite positive trading on that. if you look at an medium—term one or two you rise, what will happen is you, there is too much capacity coming into the market. ticket prices, fortunately the year, will resume going down again. fortu nately for will resume going down again. fortunately for everyone out there looking for a flight and a good deal. realistically, if we are looking ahead, what is this going to do for our holidays, what will it do for us? what is your expectation of the next kicksat involvement in terms of prices? on holiday, that is the cash cow for a loss of airlines. they will be careful not to dump prices. i would they will be careful not to dump prices. iwould not they will be careful not to dump prices. i would not expect large fa re prices. i would not expect large fare increases. there is a lot of lesser capacity coming in, easyjet
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and ryanairexpanding, lesser capacity coming in, easyjet and ryanair expanding, for economy travellers, there is a lot of choice. it is interesting that you mention easyjet and ryanair, they have pushed the whole modus operandi for the likes of iag and everyone else in terms of how you run your airline, what to provide passengers, what passengers now, lescott, have come to expect. i think it is about expectations. they have been late in the past decade, for the past decade, which enabled these business models to come up, because they fundamentally did not address one of the possibilities out there, which is cheaper air travel for everybody. thank you for coming in. good to see. snap has had $1.3 billion wiped off its value after the tv star kylie jenner tweeted that she no longer uses its app snapchat. it's share price closed down more than 6% after ms jenner‘s tweet went out to her 2a million followers. yogita limaye explains. she tweeted at 4:50pm local time. a
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few minutes after the markets closed. 0nce markets opened it has been a pretty bad day for snap. they ended more than 6% down. that is a very dramatic fall. the copies released a report, in that report they talked about the compensation that their chief executive is getting. he actually gets a stock ‘s grant of more than $600 million. there are analysts saying that perhaps it is a commendation of those two factors. generally a loss of snapchat users, i believe, have been very unhappy with this new update they have released on snapchat —— eight lot of. there was even a petition by people who said they wanted the company to go back to the original snapchat. snapchat
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says it is their effort to segregate the content, make it easierfor people to use. but i think a lot of people to use. but i think a lot of people are unhappy with it. yogita limaye there. chinese regulators say they've taken over anbang insurance for a year and that its former chairman will face prosecution. it's a conglomerate which has more than $300 billion in assets, including new york's landmark waldorf astoria hotel. let's go to our asia business hub where tim mcdonald is following the story. that is a pretty big step. it certainly is. a very unusual step. they have announced they will take over this company of 360 billion in assets, many overseas. like a number of other high—profile chinese conglomerates there is concern they have gone on this huge buying spree. as you have mentioned, if you have not heard of anbang insurance, you are probably know some of the assets, the waldorf astoria hotel.
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and they also put in a bid for more hotels. the chinese authorities are not terribly impressed by all of this. the company is in the hands of chinese regulators for the next year. theirformer chinese regulators for the next year. their former chairman has chinese regulators for the next year. theirformer chairman has been charged with economic crimes. the concern is that all these foreign purchases by late insurance and it impairs its ability to attract it. the chinese government is worried more generally about the isle of money that has been heading offshore —— amount of money. it is looking not only at anbang insurance, but some other large companies. we are likely to see more of these companies come in for closer scrutiny. a lot to look out for. they give very much indeed. now let's brief you some other business stories. the troubled japanese firm takata has reached a settlement with 44 state attorney—generals in the us into claims it concealed dangerous defects in its exploding airbags. takata's airbangs have been linked to more than a dozen deaths and more than 100 injuries worldwide.
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aianb is now moving to target wealthier travellers as it goes after the luxury travel market. the accommodation site says it will now offer a dedicated section for boutique hotels, bed and breakfasts and unusual locations like treehouses and boats. the move follows clashes between airbnb and regulators in a number of countries around the world. the us defence department has voiced support for restrictions on steel and aluminium imports. earlier this month the commerce department recommended steep curbs on imports from china and other countries. president trump has yet made a decision on how the restrictions should be implemented. brazil's economy is recovering from a severe crisis but new numbers out today show more than ten million people are still unemployed — twice as many as before the recession. the numbers also show black workers lost more jobs than white workers during the crisis.
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some entrepreneurs have now created companies to try to address the imbalance. good luck to them. that is the business briefing to this hour. this is what the markets are looking like. the dow jones is what the markets are looking like. the dowjones is a little bit over the course of yesterday. reflected in the hang seng. the interest—rate rises in the us may not be as fast and as regular as feared. news briefing coming in a moment. it started out as a project to help
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protect some of the world's most endangered wildlife. conservationists at chester zoo have joined a team of rangers in nigeria's national park to help capture footage of species in their natural habitat. they managed to capture some extraordinary footage. helen briggs has more. caught on camera in the road forests of nigeria's largest national park, red river halts, and nocturnal visitors like the nocturnal cats and the jenot. this visitors like the nocturnal cats and thejenot. this is home to some of africa's most endangered animals and conservationists are using hidden cameras to monitor them. you go through a loss of camera images. it can be quite a tedious process. leaves blowing in b wins, orjust noises, you don't see a great deal, and then you will get something like and then you will get something like a golden cat. you when it does not
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quite shot are in sight, but there they are in full detail. just about is working with the local rangers to help protect the wildlife. the park is the stronghold for a red chimpanzee found only in nigeria and neighbouring cameroon. —— rare chimpanzee. with only a few thousand left the wild, these images brace hopes that the great ape can escape extinction. scientists from king's college london have discovered it's notjust what people eat that has an impact on tooth erosion, but also how and when certain foods are eaten. they found snacking on anything acidic can lead to teeth wearing down, and swilling sugary drinks such as fruit tea and flavoured water can also cause problems. coming up at 6:00am on breakfast, charlie stayt and naga munchetty will have all the day's news, business, and sport. plus, alarming new research links mistakes in patient medication to tens of thousands of deaths a year. this is the briefing from bbc news. the latest headlines:
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eu leaders — minus britain — are to discuss the union's next seven—year budget later on thursday — covering the period after brexit. it follows a meeting at which the british government is understood to have agreed a position on the key aspects of britain's future relationship with the eu. the un security council is to vote on friday on a draft resolution demanding a 30—day truce in the fighting in syria. it is not clear how syria's main ally — russia — will vote. 0ther diplomats have accused russia of delaying the vote to allow the syrian government to continue its military campaign. australia's deputy prime minister, barnabyjoyce is to resign from his government post and as leader of the national party. it follows his admission of an affair with a former member of his staff. mrjoyce, who has long campaigned for family values, has also denied accusations of sexual harassment. let's have a look at the stories
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that are making headlines in media right across the world. we will start with fox news. they are leading on the developments from the park in high school shooting. their top story is this announcement that a deputy from the sherrock‘s office was in fact outside the school and didn't go into the building when he knew that there was a shooting taking place. abc australia is leading the news that wreckage of the last few hours, as we have been saying, the resignation of the country's deputy prime minister barnabyjoyce. he has been accused of sexual harassment, which he denies. the independent newspaper is looking at how brexitise affecting migration to the uk. they say uncertainty is fewer european citizens to move to britain and more to leave. still in the uk, the times is reporting that 0xfam gb is now barred from operating in haiti. the decision comes a fortnight after claims emerge that charities up high
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prostitute after the 2010 earthquake. the haitian government says a final decision on the charity's right to operate there would be made in a couple of months. and the gulf news has announced that saudi arabia is planning to spend $61; saudi arabia is planning to spend $64 billion saudi arabia is planning to spend $61; billion on its entertainment sector. that includes lifting a decades long ban on cinemas, 300 will be opening in the country by 2030. they also have an 0pera will be opening in the country by 2030. they also have an opera house in the plans. so let's begin.
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