tv Business Briefing BBC News November 26, 2019 5:30am-5:46am GMT
this is the business briefing. i'm sally bundock. open sesame! alibaba shares jump in their blockbuster hong kong debut. and how not to have a rubbish christmas — is it possible to do away with unnecessary packaging over the festive season? and financial markets are riding the wave of optimism about a possible trade agreement between the us and china and a bumper week for takeover activity. alibaba shares up over 6% in hong kong.
let's talk some more about the chinese e—commerce giant alibaba. shares in the chinese e—commerce giant alibaba have surged in its hong kong trading debut. the company, which is already traded in the us, raised at least $11.3 billion in its secondary listing. the move is being seen as a strategic step for alibaba in case us—china trade tensions continue to worsen, and american regulators decide to take aim at chinese—listed companies in new york. let's get more on this story. karishma vaswani is our asia business correspondent. tell us more about today's big debut for alibaba. it has been a highly anticipated share offering. in fact it is now on track to be the biggest share offering of 2019, meaning uber
—— beating oh $8 billion. there has been so much excitement about alibaba listing been so much excitement about aliba ba listing in been so much excitement about alibaba listing in hong kong is because as the company has consistently said it is a way in the words of the former chairman to bring alibaba home. two—thirds, more than two—thirds of its revenue is made from the mainland chinese market and you saw that very much on display at the listings ceremony today when many of the companies customers were actually the ones hitting the symbolic gong to point out the moment to shine a light on the moment that trading actually started. there have been many questions asked about why right now was the ideal timing for alibaba to go ahead in this on the hong kong stoppage change. you are looking at a background of political protests and violent demonstrations and at least one fund manager said to me that have they waited, perhaps the
company could have got a better valuation. there has been some speculation that the chinese government may well have put pressure on alibaba to list at this time, shift the narrative if you will from what is going on in hong kong on the streets to what is going on in hong kong on the stock exchange. certainly, alibaba says the decision behind its listing process in hong kong was purely financial, commercial decision to reach out to all of the mainland investors and asian investors that they feel should now try and get a bite out of this. interesting. thank you. yes, it has been quite a week for corporate news this week. alibaba listing in hong kong. 0ne corporate news this week. alibaba listing in hong kong. one of the many stories. it may not be december yet, but the christmas shopping season is already in full swing, and black friday is just days away. however, the season of santa doesn'tjust bring presents. it also brings rubbish, and lots of it.
new research by ing says that across the globe, 96% of us throw away plastic waste daily, with more than three—quarters of us throwing away up to five items each day. but that figure will only get worse over the christmas season. in the uk alone, we throw out roughly 100 million bin bags full of packaging from toys and gifts over the period. but things could be about to change. new data suggests that 74% of us now agree that protecting the environment should be a priority, even if it slows economic growth. jessica exton is a behavioural scientist at the banking and financial services group ing, and shejoins me now. good morning. tell us a little bit more about this analysis that you have put together at ing telling us about our behaviour when it comes to waste. we want to understand how spending decisions are affected by oui’ spending decisions are affected by our interest in the more sustainable
and more environmental. what we find is plastic is front of mind for a lot of people. people are interested in trying to reduce the amount of waste they are producing, but we have a bit of a conundrum. we know we are throwing away a lot, but we are looking for opportunities to start reducing that. it is a little bit tricky. it is interesting. i have noticed this year that a lot of people are talking about their spending decisions and to what extent they can be sustainable or not. in the case for example, the big blockbuster movie frozen two which has huge amounts of merchandise of the hot toys this christmas, it is hard to avoid the plastic and the packaging. in some cases, yes, it is. but we find people are really thinking about ways to start reducing. there is a perception however that some businesses and companies are being slow to respond. customers do really wa nt slow to respond. customers do really want help in order to start reducing their plastic use. it is true,
because when you go shopping and you are looking for the item you wish to buy and it might be inside this huge amount of packaging, which is totally unnecessary, so what pressure is being put on businesses to reduce their waste? it is a good question. we asked people about whether they expected backlash to be occurring if businesses weren't becoming more sustainable, and we found if people could think of one business that had actually changed its operations in a way that would make it able to reuse its products more. . . make it able to reuse its products more... what business was that? it would be different for each person. a third of people said they could think of one. while that it is not a huge number, businesses are changing. in terms of how we throw away waste, just to make that clear i would make a huge difference because as you use items in the home, it is not clear what you can recycle in and what you cannot. different councils depending on where you live and in other
countries there is not a countrywide system for recycling. we covered 15 countries in the survey and have seen the recycling activity across a range of different areas and through different cultures and social structures, and what we see is that while a huge majority of people say they do recycle their waste, a big pa rt they do recycle their waste, a big part say they are sometimes unsure about where to put things. there are different solutions in different countries for this. which were the best in the worst countries, name and shame. they seem to vary across and shame. they seem to vary across a whole range of different places. for example, we saw disparities across different countries in europe from an east and west as well. we combine questions to look at an overall index and we saw that some activity, the bike breaks, i look to repair rather than throw it away. it differs across different locations. it isa differs across different locations. it is a very diplomatic answer. you don't want to name and shame.
jessica, thank you for being on the programme. tell us what you think about that. to what extent you are trying to make your christmas sustainable. that is assuming you do celebrate the festive season. he's created the world's second biggest music channel on youtube and the biggest channel in latin america. yet for many, the name konrad dantas or ‘kondzilla' will be unfamiliar. he began with just a camera and a laptop, making music videos for unknown artists. now, aged 31, he owns a major record label and production company in brazil. let's take a look.
now, let's brief you on some other business stories. the ticket reseller viagogo has announced a $4 billion deal to buy its rival stubhub in a move it said would create more choice for customers. viagogo is buying its rival from ebay, which bought stubhub in 2007 for $310 million. the deal comes after the uk's competition authority suspended legal action against viagogo after it made changes to the way it operates. poland has brought about 100 tons of gold home from storage in the bank of england in a bid to demonstrate the strength of the nation's economy. after adding to its existing gold reserves, the country has now become the 22nd biggest bullion holder in the world. the polish central bank also says the country has the biggest reserves of the metal in the
european union's east. up next, newsbriefing. for now, you are up—to—date on the business stories. the lorry driver, maurice robinson, accused of causing the deaths of 39 migrants found in a lorry container in essex, has pleaded guilty to conspiracy to assist illegal immigration. the bodies of the people from vietnam were discovered last month. another man has now been arrested. our home affairs correspondent daniel sandford reports. the discovery last month of 39 dead people from vietnam in the back of a lorry in essex led to a huge international investigation
into a suspected people smuggling gang. mo robinson, the 25—year—old lorry driver from northern ireland, arrested at the time, appeared by video link at the old bailey and pleaded guilty to conspiring with others to assist illegal immigration. he's also accused of 39 counts of manslaughter, but at this stage, he has not been asked to say whether he pleads guilty or not guilty to those charges or a charge of people trafficking or one of money laundering. mo robinson is the first person to appear here the old bailey following the 39 deaths, but he won't be the last. he's accused of being part of a wider conspiracy. two other men are already facing charges, and police are looking to talk to at least two more. 8 of the 39 people found dead in the lorry were female. 10 were teenagers. 2 of them were boys ofjust 15. they all leave behind
grieving families in vietnam. with the wider investigation into the deaths are still continuing, a third man from northern ireland, christopher kennedy, appeared in court today, also charged with people trafficking and assisting illegal immigration. more on that story and the other top stories of the day on breakfast at six o'clock. that is with louise minchin and dan walker. this is the briefing from bbc news. the latest headlines: hong kong's chief executive has acknowledged that the results of sunday's election reflected people's discontent, but offered no new concessions. a us court has ruled that a former white house counsel must testify before congress, rejecting the trump administration's argument that white house officials cannot be compelled to do so.
the world anti—doping agency has called for russia to be suspended from international sporting competitions for the next four years. now, it's time to look at the stories that are making the headlines in the media across the world. we begin with bbc news 0nline, among many outlets covering a report that's found greenhouse gas concentrations in the atmosphere are at a record high. the daily mirror reports morrisons has become the first british supermarket to sell discounted boxes of food that's reached its best before date. climate campaigners call for us to cut back on our emails to help the environment. a study in the sun says it could prevent thousands of tones of carbon emissions a year. the financial times has one of the big business stories — uber losing its licence to operate in london after regulators found driver fraud put riders at risk. and finally, the verge website says
new york's iconic paris cinema will re—open after netflix signed a deal to rent it to showcase some of its most prestigious releases. with me is lawrence gosling, the editor—in—chief at what investment. let's get stuck in. this first story is just let's get stuck in. this first story isjust depressing, isn't let's get stuck in. this first story is just depressing, isn't it? let's get stuck in. this first story isjust depressing, isn't it? the world meteorological organisation says the increase in co2 is just above the average rise recorded for the last decade, but when you look at various different types of gases, it is going up and up. it's extraordinary, and you're right, it is very depressing, and there are two things within this report, it's about emissions, so c02 going up into the atmosphere from things like coal burning, and they are focusing on this piece about concentration. so essentially it is what is left behind from the emissions that have been almost overcome by whatever, these figures feed into why we are hearing more about like rising