tv World Business Report BBC News September 16, 2021 5:30am-6:01am BST
this is bbc news, with the latest business headlines for viewers in the uk and around the world. will the lights stay on this winter? fears of an energy crisis as gas and electricity prices surge to record highs across europe. back to the office — but most british bosses and staff believe work will never be the same again feeding anxiety. instagram may have a harmful effect on teenagers — according to research by its owners facebook. and — losing streak. billions of dollars wiped off the value of casino operators — as china starts a regulatory crackdown.
could europe be facing an energy crisis this winter? it is time to now get it is time to now net down to it is time to now get down to business and we have a question. could europe be facing an energy crisis this winter? that's the fear of some analysts — as the price of gas and electricity soars to record highs and supplies are squeezed across the region. energy demand has surged as economies have bounced back from the pandemic. but supplies have come under pressure as governments try to wind down polluting energy sources like coal. natural gas prices are up 170% since the start of the year. and investment giant goldman sachs is among those warning of possible blackouts once the weather turns cold. simon french is chief economist at panmure gordon here in london.
good morning to you. this has beenin good morning to you. this has been in the news, rumbling on for a few weeks now but it has come to a head because another problem of outage in the uk. that is right. i think this presents three distinct sets of problems. first for consumers and consumers notjust in the uk but across europe expecting higher prices and the price in the uk going up more than 12% next month. and then for businesses, providing power and what is increasing capacity energy market, forward provide contracts to household assuming a certain price on those prices as you have described, particularly for natural gas have moved way out of kilter from what they were budgeting for. we may see company failures. and then there is a strategic challenge because europe is increasingly reliant as a flex supplier on potential russian gas pipelines, that is
geopolitically difficult given the relationship between europe and russia but, also, the long—term move to net zero, a lot of challenges for government, business and consumers. and this highlights, for example in the uk, some of the problems we have with alternatives to fossil fuel, energy supplies, wind, we have had the least windy summer on record and in itself that is a problem that you cannot fix. it has not felt like that hazard for some people taking holidays, often windy but it has not actually been, in terms of statistics, it has not been for the offshore wind industry which has often provided one third of uk capacity but it has been well down on that and there is a broader issue not just with renewables and the
overall supply but also the storage capacity and that is one of the areas that if the uk and europe will hedge its bets on renewables including wind and solar it has to have a battery energy storage system that can deal with the fact that can deal with the fact that none of us, weather forecasters included and certainly not energy analysts, can know what is going to be brought to us at. in can know what is going to be brought to us at.— brought to us at. in the meantime _ brought to us at. in the meantime it _ brought to us at. in the meantime it is - brought to us at. in the - meantime it is embarrassing us here in the uk. we are hosting one of the most important climate events in november and yet firing up our coal plants to supply power in the midst of this problem. it to supply power in the midst of this problem.— this problem. it is politically embarrassing _ this problem. it is politically embarrassing in _ this problem. it is politically embarrassing in a _ this problem. it is politically embarrassing in a narrow i this problem. it is politically - embarrassing in a narrow sense. long—term you have to look at the progress that the uk has made away from coal and recognise that that has been a dramatic success story. but there is a big but here, there
will be a transition towards net zero and greater electrification, a greater demand on electricity, does not matter if that is in our homes or vehicles and, therefore, having a capacity to notjust replace the existing fossil fuels but to expand on greater electrification is a bigger logistical challenge. the red faces would be greater if those longer term challenges cannot be achieved rather than perhaps fired up over a couple of power stations in the near term. thank you. good to see you, simon and have a good day, we will talk to you again soon. the pandemic has created a seismic shift in working life for millions of people. a survey, conducted by yougov for the bbc, has found that more than two thirds of staff, and over three quarters of business leaders here in great britain — think it's unlikely people will be back at their office desks in the same way again. but getting the balance right between time at home and work can be trick.
telecoms firm talktalk has embraced hybrid working for staff. here's how staff at their salford hq have been finding it. iam more i am more productive in the office because it is a professional environment and you can see people in chat to people. sometimes it is home it is difficult because i will dress the same but i will wear slippers so i do not feel the same level of professionalism that i do in the office. at that i do in the office. at home i _ that i do in the office. at home i catch _ that i do in the office. at home i catch up on admin but i hate _ home i catch up on admin but i hate having calls on teams. i would — hate having calls on teams. i would rather talk face—to—face. each _ would rather talk face—to—face. each working week will be very different — each working week will be very different from one another and i will_ different from one another and i will start to use the office to my _ i will start to use the office to my advantage. | i will start to use the office to my advantage.— i will start to use the office to my advantage. i will keep a balance between _ to my advantage. i will keep a balance between working - to my advantage. i will keep a| balance between working from home — balance between working from home and _ balance between working from home and coming _ balance between working from home and coming into - balance between working from home and coming into the - home and coming into the office. _ home and coming into the office. just _ home and coming into the office, just for— home and coming into the office, just for my- home and coming into the office, just for my mentall office, just for my mental health_ office, just for my mental health as _ office, just for my mental health as well, _ office, just for my mental health as well, you - office, just for my mentall health as well, you know? office, just for my mental. health as well, you know? i think— health as well, you know? i think a _ health as well, you know? i think a 9—to—5_ health as well, you know? i think a 9—to—5 is _ health as well, you know? i think a 9—to—5 is gone - health as well, you know? i think a 9—to—5 is gone nowl health as well, you know? i. think a 9—to—5 is gone now for the majority— think a 9—to—5 is gone now for the majority of— think a 9—to—5 is gone now for the majority of business. - think a 9—to—5 is gone now for the majority of business. it. the majority of business. levels the playing field. it makes it ok to want to leave at three to pick up your daughter
or to go to yoga class. people are good at theirjob and have the picken choice, they will probably choose the employer who gives them the greatest flexibility. tamzen isacsson is chief executive of the management consultancies association. good morning to you. i know you are at home because it is early in the morning but are you headed to the office today? what is your current situation? we are working remotely but also going into the office. a mixture of both and that reflects what the consulting sector has been doing. i agree with many of the comments of the people you interviewed there, a difficult balancing act and there are some advantages and disadvantages. for the consulting sector we have been working flexibly for years so this is not any kind of revolution for our sector but for the tens of thousands
of clients that we support across the uk there has been a seismic shift in working patterns and it is really about getting that balance right. many businesses are now looking at why people go to the office, repurposed in the office so it is more for training and development of a collaboration orfor bringing teams development of a collaboration or for bringing teams together and meeting clients. while recognising that there are major advantages being delivered with remote working. our sector has been able to do massive digital transformation projects remotely serving clients during critical periods in the pandemic and there are advantages in terms of the flexibility that it allows, it opens up regional teller calls, diverse talent and people who want to work more flexibly and i think the challenge for business will be seizing both those advantages and making
sure that individuals are benefiting but also business is still able to deliver and serve clients. it still able to deliver and serve clients. , . . still able to deliver and serve clients. , ., ., clients. it is a tricky one because _ clients. it is a tricky one because it _ clients. it is a tricky one because it does - clients. it is a tricky one because it does depend | clients. it is a tricky one i because it does depend on clients. it is a tricky one - because it does depend on what you do for a living as to how well you can implement a hybrid working life balance, as it were. also it is interesting how, when managers and workers who are interviewed by this exclusive survey that we did, they disagreed on whether working from home is good for creativity. it is good for collaboration. some industries thatis collaboration. some industries that is important.— that is important. absolutely ri . ht. i that is important. absolutely right- i say — that is important. absolutely right. i say that _ that is important. absolutely right. i say that our- right. i say that our consulting sector is at the forefront in terms of digital tools and new methods of working so we have been able to drive some of those changes with clients who we serve. the collaboration and creativity is still present but, obviously, everybody has missed fa ce—to —fa ce everybody has missed face—to—face interaction and i
think in future all businesses will want to bring teams together, will want to bring teams and clients together for critical periods during a project to make sure that we can shut that creativity, as you were saying. it can shut that creativity, as you were saying.— can shut that creativity, as you were saying. it is a huge talkin: you were saying. it is a huge talking point— you were saying. it is a huge talking point currently - you were saying. it is a huge talking point currently and i talking point currently and thank you for your time this morning. tell me what you think about this if you have returned to the office or not or if you are planning to work from home permanently. get in touch. it would be lovely to hear what you are doing at the moment. let's talk now about the photo sharing app instagram. it could be having a harmful effect on many teenagers particularly girls. according to internal research carried out by facebook — the company that owns it. an investigation by the wall streetjournal found that facebook had conducted in—depth studies showing the dangers of the photo—sharing app — while playing down the issue in public. angus crawford reports a girl with so much to live
for, bright and talented. molly russell took her own life in 2017. she was just ia. after her death, on her instagram account, herfamily found a stream of dark, depressing content and, in part, blame it for her death. now, the wall streetjournal has published internal facebook research labelled "a teen mental health deep dive". it found that social can harrison is worse on instagram and admitted that we make issues worse for one in three teen girls and teens blame instagram for increases in the rate of anxiety and depression. i don't know, i was sick to the pit of my stomach. it was dreadful. molly's father ian is appalled. if they know more about it and they're not doing something about it, then they're culpable in a really dreadful way, because this potentially could cost lives. no—one at facebook hq in london
was available to talk about instagram, which it also owns, but it did release a blog. the company said it stood by the research, even though it claimed that the wall streetjournal had focused on a "limited set of findings". it also claimed that "wider research on the effects of social media on people's well—being" was "mixed". and finally, it claimed that it was doing extensive work to make instagram "a safe and supportive place". instagram sells itself as a place for fun, friendship, but the company's known for years, for some young people, it's a much, much darker place. angus crawford, bbc news. dr sam fowles is from cornerstone barristers — he has advised government on issues such as data it is good right about design
code which came into effect setting out 15 standards that companies must build into any online and has that code impacted what we are discussing today? i impacted what we are discussing toda ? ~ �* . ~ today? i think we're talking about apples _ today? i think we're talking about apples and _ today? i think we're talking about apples and oranges, | about apples and oranges, really. age—appropriate design code is very much looking at the structure of apps like instagram. things like what click through's are enabled. what this problem seems to come from is the content and it is integral to the business model of notjust instagram but so many people who use instagram and to monetise it is this idea of social comparison, people present on instagram these highly curated lifestyles that look incredibly perfect but are in many ways just a sort of
show and people, people look at them and think why am i not like that? and they feel much worse about themselves. and thatis worse about themselves. and that is the heart of the social comparison that this research has identified. actually that is not a new problem, it is just a new medium. i remember back in, ten years ago when we were talking about this exact problem in relation to beauty magazines and page three of the son. and so we see the same problem, magnified in a way but also brought right into people's pockets through instagram. ata at a very vulnerable age as well, you are allowed on instagram by the age of 13 but many will say that they are 13 when they aren't, they will be on it a lot sooner. molly russell was 1a, so what we are
saying here is that the law can only go so far?— only go so far? yes, there is a real problem _ only go so far? yes, there is a real problem in _ only go so far? yes, there is a real problem in terms - only go so far? yes, there is a real problem in terms of- real problem in terms of regulating this with the law, because you have to ask yourself, how far can we essentially restrict the free speech of people and companies on instagram? or on facebook, twitter, orany on instagram? or on facebook, twitter, or any media, on instagram? or on facebook, twitter, orany media, because the more government restricts content, the more it restricts freedom of expression. but, at the same time, you have to ask, to what extent is facebook manipulating freedom of expression? one of the things that we saw through this research is the crosscheck feature, which has allowed some politicians and celebrities to essentially get around the code of conduct, at least that is
the allegation — get around that code of conduct that applies to the rest of us and post things that we wouldn't be allowed to post. so it is also problematic from a democratic perspective, if facebook is picking and choosing who has to obey its code. it is picking and choosing who has to obey its code.— obey its code. it is a very difficult _ obey its code. it is a very difficult area, _ obey its code. it is a very difficult area, and - obey its code. it is a very difficult area, and we - difficult area, and we appreciate your expertise once again, dr sam fowles, thank you for being on the programme. thank you. to asia now where shares of casino operators in macau have continued to fall, as china begins a regulatory crackdown on the industry. billions of dollars were wiped off the stocks on wednesday as some companies lost up to a third of their market value. katie silver from our asia business team is following this for us in singapore. it would seem now that casinos are in the sights of
authorities? that's right, weary investors in hong kong no doubt not liking that another industry has been added to so many that have been clamped down on paper ageing. we're talking about liquor, property, education, technology, and now casinos. this has been a long—running issue for this area, and the shares have tumbled at about 5.5% today. some of the biggest losers in recent days have been wendy tran as well as sands of china. we saw billions wiped off their value. the reason is, late tuesday, these companies were called in to meet with the macau government, as the government wants to reform many elements. they are looking at about nine different elements. potentially how many licenses they will grant casinos next june when licenses are up for renewal, as well as workers'
rates, and one of the most interesting proposals they are looking to change is whether or not they will implement a government officer to work into these businesses every day to monitor their day—to—day activities. a lot of potential changes for industry. considering it is one of the largest gambling hubs, they have been trying to diversify their income because they have been worried that they make too much money from gambling are not enough from other sources. thank you, stay with us on bbc news. coming up — we enter the era of the fair—paying astronaut. 30 hours after the earthquake that devastated mexico city, rescue teams still have no idea just how many people have died. well, there is people alive
and there is people not alive. we canjust help and give them whatever we've got. a state funeral has been held for princess grace of monacol at the church where she married prince rainier 26 years ago. - it looked as though they had come to fight a war, but their mission is to bring peace to east timor, and no where on earth needs it more badly. the government's case is being forcefully presented by the monsieur badinter, justice minister. he's campaigned vigorously for abolition, having once witnessed one his clients being executed. elizabeth seton spent much of her time in this grotto, and every year, hundreds of pilgrimages are made here. now that she has become a saint, it is expected that this area will be inundated with tourists. the mayor and local businessmen regard the anticipated boom as yet another blessing of saint elizabeth. this is bbc world news, the latest headlines: china has condemned a new defence and security deal between the us, britain and australia, aimed
at boosting their influence in the indo—pacific. borisjohnson is preparing to change britain's middle—ranking ministers, after completing a sweeping cabinet reshuffle that sets the tone for the years ahead. president biden has been meeting with the ceos of top us firms — including disney and microsoft — as well as other senior business leaders, as part of his push for more americans to get vaccinated against covid. from new york, here's michelle fleury. the white house is made at goal clear, they want the country vaccinated and they want the help of the business community. around the table top executives from some of the biggest companies in the land — microsoft, walgreens, disney. the president's recent mandate requires companies with more than 100 employees to make sure that their workers are vaccinated or get tested weekly
for covid. more than 80 million private—sector workers will be impacted. the purpose this was to discuss how it will work, but many of the questions still remain unanswered. when will it go into effect? how will the us workplace regulator enforce the new order? what penalties might employers face if they fail to comply? the president said it will take more time. still, it is worth noting that many of those around the table have vaccine policies in place. disney, for example, already requires its employees working in person at its offices or parks to be vaccinated. for the business community, showing up as a group made it easier to lend support for what is a divisive issue in this country. i have spoken to some business owners who feel it is an overreach by the government, and others who have been saying they have been waiting for federal leadership on this issue. forthe federal leadership on this issue. for the white house, it
issue. for the white house, it is a gamble but the hope is that rising vaccination rates will help the economy and speed up will help the economy and speed up the recovery from the pandemic. as you've been hearing, the first space mission crewed entirely by civilians has taken off from cape canaveral in florida. the four amateur astronauts blasted into orbit on board a spacex rocket. the trip has been paid for by one of the crew — billionaire businessman jared isaacman. he'sjoined by a healthcare worker, a scientist and a data analyst. it's hoped the flight wil open up access for paying customers. nick spall is a fellow of the royal astronomical society and member of the british interplanetary society. welcome. good morning. would you have liked to have been one of those it would have been quite an experience. they have three days ahead of them with the most fantastic views of the planets. edi the most fantastic views of the lanets. . ., , the most fantastic views of the lanets. _, , ., ., planets. of course, we are into a new era- _ planets. of course, we are into a new era. this _ planets. of course, we are into a new era. this is _ planets. of course, we are into
a new era. this is an _ planets. of course, we are into a new era. this is an importantj a new era. this is an important step forward in the history of space exploration, a privatised spaceflight, entirely paid for privately. i guess, the broad picture is this isn'tjust for moneymaking, it is a part of big history of space exploration. nasa has decided that they want to do things i go back to the moon project, artemis, and go on to mars, but this is putting lower orbit operations into more private hands. we will see the space station, at around 2030, gradually privatised for lower orbit activity. we know now that it is very expensive and in time prices will come down, but it isn't just the money, you have to prepare, physically, to go to space. what is involved? they have they have been training
for about six months. being a private astronaut doesn't mean that you need to be a super person. this is showing that normal people can go into space despise the strange experience of going into zero gravity. i guess the message is, we are back in the days of the 1920s of flying when it became more common, but at the time any people thought it was a rather alien thing to do, that it strained the body, but we are showing now that spaceflight has become almost part of our daily activity. private people, relatively healthy, that people can experience it. they will be suffering a little bit from the effects of weightlessness. most people say that within two or three days it goes away. so they will be suffering some strange feelings of being in zero gravity because they will
inaudible. so much. ., ,, inaudible. so much. ., ., , ., so much. thank you for sharing our so much. thank you for sharing your thoughts _ so much. thank you for sharing your thoughts on _ so much. thank you for sharing your thoughts on that - your thoughts on that extraordinary trip. we will keep track on how they get on. thank you for your company. see you soon. hello. autumn is now gently, slowly but surely, creeping in across the northern hemisphere. our days are getting shorter, but there is still some warmth in the september sunshine. and certainly, it was a good—looking day across a large swathe of the uk on wednesday, although scotland and northern ireland did get lumbered with more in the way of cloud and some outbreaks of rain. we should see more sunshine here, though, in the next few days. another sign, though, that autumn is upon us is the presence of some early morning mist and fog. the reason it'll be drier for scotland on thursday is high pressure starting to extend up here. it's also the reason, though, that i think we will see some early mist and fog under the ridge where we've had light winds overnight. the sun, however, should burn that back pretty quickly, and then a lot of fine weather and sunshine to come through on thursday.
we lose any early showers in the northeast of scotland, temperatures 21—22 celsius. through the afternoon, though, more cloud starting to show its hand into northern ireland — that's the forerunner of this weather front that will push into the west of the uk for friday daytime. we move through thursday evening into the small hours of friday, and we get the rain into northern ireland. it's quite patchy across western scotland, it stays dry across england and wales. a mild enough night, temperatures in double figures — up to 15 degrees in belfast, where we get quite a strong southerly wind as this weather front pushes in. it will move its way into the west of the uk, but then it kind of grinds to a halt, actually, for friday. so, because it does that, that means the rain willjust keep on coming for the likes of northern ireland, possibly for the southwest of scotland. later on in the day, some downpours for the southwest of england and for wales. but it's northern ireland stuck under the cloud and with the rain on friday. quite breezy here, as well, quite gusty winds at times. big contrast between east and west — just mid—teens, the temperatures in
the west under the rain. we could still see maybe 22—23 celsius in the sunshine further east. our front will gradually make its way eastwards across the uk through the weekend. for scotland and northern ireland, i think it'll bring some patchy cloud. but for england and wales, it does bring the threat of perhaps some quite punchy showers, longer, more persistent outbreaks of rain at times. certainly, saturday looks like it could be quite wet across england and wales. the showers should thin out somewhat for sunday.
good morning, welcome to breakfast with nina warhurst and charlie stayt. our headlines today. borisjohnson continues the biggest shake—up of his team since he entered downing street after the sackings and demotions of his cabinet cull. the uk, us and australia form a security pact to counter china's growing power and military presence. deadline day for care workers to get their first mandatory vaccination against covid, or face the sack. how do you get people back into the