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tv   World Business Report  BBC News  February 5, 2024 11:30am-11:46am GMT

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fuelling the war in ukraine — russian oil is getting into the uk despite sanctions, according to research seen by the bbc. plus, charging ahead! uk ev sales hit one million injanuary, but the industry calls for more incentives to encourage drivers to make the switch. welcome to world business report. to electric cars now because the uk registered its one millionth battery electric vehicle last month, according to car industry figures. a jump in sales to fleet buyers, who operate company car schemes for example, helped the uk market reach the key milestone in january,
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but behind the headline number it's not all good news as sales of electric cars to to private individuals are continuing to struggle. let's hear now from the smmt chief executive, mike hawes. this kid to have you with us, mike. apologies for that, a few technical issues. quite a milestone, the 1,000,000th car. it is not private individuals, it is company cars?— car. it is not private individuals, it is company cars? evs have been on the market — it is company cars? evs have been on the market for— it is company cars? evs have been on the market for about _ it is company cars? evs have been on the market for about a _ it is company cars? evs have been on the market for about a decade - it is company cars? evs have been on the market for about a decade now. the market for about a decade now and it has taken us that long to get to a million. we need to accelerate that progress and hopefully we can get to the next million in two years
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rather than ten or 20. it is the business buyer, the fleet buyer who are buying these vehicles because they have the tax incentive to do so, and the private buyer, the government pulled the £5,000 incentive about 18 months ago, so what we are asking for is for the government to stimulate the private consumer. if you're going to hit net zero, everyone is going to have to make the transition.— make the transition. there are concerns about _ make the transition. there are concerns about things - make the transition. there are concerns about things like - make the transition. there are i concerns about things like range anxiety, whether people will be able to get what they want to. also the cost. the cost is coming down. but charging infrastructure is still an issue, isn't it?— issue, isn't it? yes, all the surveys — issue, isn't it? yes, all the surveys to _ issue, isn't it? yes, all the surveys to people - issue, isn't it? yes, all the surveys to people thinking | issue, isn't it? yes, all the - surveys to people thinking about making a choice, they do cite the high purchase price and it is a new technology and invariably new technology and invariably new technology is more expensive.
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efficiencies will try to drive that type of the infinite, the raw materials are very expensive. the other barrier is charging. will i have the confidence wherever i go to be able to charge? it is being rolled out on the strategic road network, the motorways are getting better, but on the street is playing catch up. we need to build the of demand so everyone is confident when they make that switch they will be able to charge wherever and whenever they like. and it is notjust those with driveways who can make that shift. ~ ~' ., ~' with driveways who can make that shift. ~ ~ ., ~ ,, with driveways who can make that shift. ~ ~ ., ~ i. ., with driveways who can make that shift. ~ ~ ., ~ ., , ., shift. mike, thank you for bearing with us while _ shift. mike, thank you for bearing with us while we _ shift. mike, thank you for bearing with us while we sorted _ shift. mike, thank you for bearing with us while we sorted things - shift. mike, thank you for bearing | with us while we sorted things out this end! thank you. we start with energy, because millions of barrels of fuel made from russian oil are atill being imported to the uk despite sanctions imposed over the war in ukraine, according to research seen by the bbc. a so—called �*loophole' means russian crude is refined in countries such as india, which are not sanctioning russia, and the products then sold to the uk.
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this is not illegal and does not breach the uk's russian oil ban, but critics say it undermines sanctions aimed at restricting russia's war funds. let's hear now from my rosener, who's leads the ukraine project at the charity global witness, which is behind some of the research. thank you for being with us. we sat there, not illegal, but this does fly in the face of those sanctions and the spirit of those sanctions. that is the issue, isn't it? absolutely, what it means is that countries like india and china and turkey are importing millions and millions of barrels of russian oil, which they then processed into fuel products like diesel, jet fuel and gasoline. those products are then sold on to the west to countries that directly embargo russian oil. this means that western countries like the uk are still linked to the
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supply chains that are fuelling kremlin revenues through the soil purchases and that uk flights and cars are still running on products that are derived from russian oil. how much money is that putting into the war chest for moscow, given that there is a reliance and some countries still continue to trades with russia in all, that is funding the war, isn't it?— the war, isn't it? kremlin are spending _ the war, isn't it? kremlin are spending historic _ the war, isn't it? kremlin are spending historic months --| the war, isn't it? kremlin are - spending historic months -- amounts spending historic months —— amounts in the war in ukraine. uk imports of jetfueland in the war in ukraine. uk imports of jet fuel and diesel through the refining loophole in 2023 alone was worth at least £100 million to the kremlin and indirect tax revenues. that is not the value of the oil itself, that is just the kremlin takes on the oil exports. that is the equivalent of 5.2 million
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barrels that the uk imported. it underlines how complicated global supply chains are and how lacking in transparency, i guess, supply chains are and how lacking in transparency, iguess, in supply chains are and how lacking in transparency, i guess, in some respects. it is very difficult to work out and follow the route of where the stuff comes from and end caps. where the stuff comes from and end cas, �* , , where the stuff comes from and end ca s. �* , u, , , where the stuff comes from and end ca s. �* , h, , , , where the stuff comes from and end caps. absolutely, but there is an easy solution _ caps. absolutely, but there is an easy solution to _ caps. absolutely, but there is an easy solution to this _ caps. absolutely, but there is an easy solution to this problem. i caps. absolutely, but there is an | easy solution to this problem. to close to refining loophole and strengthen our oil sanctions. the us is already ahead on this. the uk kanban imports from refineries that refine russian crude. we have been able to trace these refineries and there are only a handful of them in india and turkey that are importing these huge volumes of russian oil and over in the united states over 60 representatives in congress have introduced a bill that would ban imports to the united states of refined products that are refine
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from russian oil. the uk government should follow suit and close this loophole, strengthen sanctions and nature that the intention of the original embargo was upheld and we are not unintentionally sending money to the kremlin that is funding this work around ukraine.— this work around ukraine. clearly this work around ukraine. clearly this oil is needed, _ this work around ukraine. clearly this oil is needed, those - this work around ukraine. clearly this oil is needed, those refinedl this oil is needed, those refined products are being used particularly in things like aviation. if that source was to be switched off, are there alternatives?— source was to be switched off, are there alternatives? there are. but importantly _ there alternatives? there are. but importantly what _ there alternatives? there are. but importantly what this _ there alternatives? there are. but importantly what this would - there alternatives? there are. but importantly what this would do - there alternatives? there are. but importantly what this would do is l importantly what this would do is dis— incentivise refineries that previously took this war hardly imported any russian oil from importing russian oil, so they can make the decision whether they want to do business with the west or with russia. furthermore we have seen that when the eligible pool of buyers for russian oil is limited it puts downward pressure on the price of russian oil, which would mean cheaper russian oil and also less profit for the kremlin.—
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cheaper russian oil and also less profit for the kremlin. really good to have you _ profit for the kremlin. really good to have you with _ profit for the kremlin. really good to have you with us. _ profit for the kremlin. really good to have you with us. thanks - profit for the kremlin. really good to have you with us. thanks very l to have you with us. thanks very much. to northern ireland now and the uk prime minister, rishi sunak, has been visiting the parliament buildings at stormont to mark the return of devolved government. new post—brexit trade arrangements between northern ireland, the rest of the uk and the european union have been set out by the uk government. they will reduce checks and paperwork on goods going from great britain to northern ireland. there will be no routine checks on british items being sold to consumers in northern ireland. however, some british products brought in for processing, such as raw materials and components, will still face full customs processes. we spoke to roger pollen, head of the federation of small businesses for northern ireland, to get some reaction. well, really, isuppose the best way to think about it is northern ireland's like the union in a venn diagram. so it's the bit in the middle that overlaps with both the uk market and the eu market.
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before today, what we were seeing was that there was very tight restrictions. it was treating everything that was coming into the uk part of that as if it might be coming into the eu, as well. now i think there's a lot more agreement on how we can differentiate the two, so that should cut away a lot of the process that are being applied to things that were coming in from england, scotland and wales into northern ireland to be consumed in northern ireland only. they will be just treated as other uk goods. so i think that's going to simplify things. it's going to return quite a degree of choice to consumers here, but it's also then going to protect the eu market because the controls cover the stuff that's coming into northern ireland and may be going on through into the eu. it was a big night for the music industry last night at the annual grammy awards. the industry has been undergoing major changes, from the rise of al to the power of social media as a gateway to content, sparking the recent showdown between tiktok and universal music group. drjo twist is chief executive of the british phonographic industry, or bpi.
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she says the industry is continuing to adapt. music consumption was up again over the last 12 months. the streaming market recorded an annual high again. even vinyl sales have grown their fastest rate this decade. so, actually, everything is on the up, but of course, disruption always happens with creative industries and i think the music industry has done extremely well to embrace disruption over the last 15 years or so and certainly has embraced technology in the way that we can assist human creativity, which is really fundamentally the heart of music. in other news, the cbi business group has settled legal action brought by its former boss tony danker for wrongful dismissal. mr danker was sacked with immediate effect in 2023 following complaints about his behaviour. the lobby group, which claims to represent the interests of 170,000 businesses across the uk,
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confirmed it had agreed an "undisclosed settlement" with its former director—general. in a statement, it also says mr danker "is not associated in any way with the historical allegations reported in the media". the boss of emirates airlines has warned boeing is in the "last chance saloon", saying he had seen a "progressive decline" in its performance. the comments to the financial times come as boeing admitted it will have to re—do work on about 50 undelivered 737 max airplanes, potentially delaying deliveries. the problem arose after its supplier spirit aerosystems discovered two mis—drilled holes on some fuselages. donald trump has told fox news he would reimpose tariffs on china that could exceed 60% if he were re—elected to the white house. when asked if he would start another trade war with beijing, trump shrugged it off, saying president xi was a good friend of his, and that he wanted to see china "do great". the chair of the us federal reserve,
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jerome powell, said the central bank can be "prudent" in deciding when to cut interest rates. speaking on the cbs show 60—minutes, powell said, given the strong us economy, policy—makers can afford to wait a while longer to make sure inflation is moving down to 2% in a sustainable way. last week the fed held interest rates at a 23—year high, with the chair all but ruling out a cut in march. now the markets. it is worth keeping an eye on the fact that in an election year there will be so much focus on what these do. the economy in europe is on the whole picking up, but there is a real concern that we are not particularly feeling that immediately in our pockets. yes, inflation is starting to slow but it is not the inflation just yet. brent crude is down by half of 1%. see you
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soon, goodbye. bbc news, bringing you different stories from across the uk. hana; stories from across the uk. harry and his family — stories from across the uk. harry and his family are _ stories from across the uk. harry and his family are huge _ stories from across the uk. harry and his family are huge brightonl and his family are huge brighton fans, but seven years ago harry suffered a cardiac arrest at school. it was his teacher, christine, who saved his life.— saved his life. harry was playing football at _ saved his life. harry was playing football at the _ saved his life. harry was playing football at the after-school - saved his life. harry was playing football at the after-school club j football at the after—school club and i got called out to the field and i got called out to the field and he was just lying there. i and i got called out to the field and he wasjust lying there. i knew he wasn't breathing and also his lips were glowing blue. she he wasn't breathing and also his lips were glowing blue.- he wasn't breathing and also his lips were glowing blue. she can sit -- continue _ lips were glowing blue. she can sit -- continue doing _ lips were glowing blue. she can sit -- continue doing cpr _ lips were glowing blue. she can sit -- continue doing cpr for - lips were glowing blue. she can sit -- continue doing cpr for 15 - lips were glowing blue. she can sit l -- continue doing cpr for 15 minutes —— continue doing cpr for 15 minutes without— —— continue doing cpr for 15 minutes without stopping. she is the most amazing _ without stopping. she is the most amazing lady and i'm really, really grateful— amazing lady and i'm really, really grateful for what she did for harry. all i grateful for what she did for harry. all i could — grateful for what she did for harry. all i could remember was waking up in hospital—
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all i could remember was waking up in hospital and — all i could remember was waking up in hospital and not— all i could remember was waking up in hospital and not really— all i could remember was waking up in hospital and not really knowing i in hospital and not really knowing what _ in hospital and not really knowing what had — in hospital and not really knowing what had happened, _ in hospital and not really knowing what had happened, what- in hospital and not really knowing what had happened, what had - in hospital and not really knowing l what had happened, what had gone in hospital and not really knowing - what had happened, what had gone on. cardiac— what had happened, what had gone on. cardiac arrest _ what had happened, what had gone on. cardiac arrest can _ what had happened, what had gone on. cardiac arrest can happen _ what had happened, what had gone on. cardiac arrest can happen to _ what had happened, what had gone on. cardiac arrest can happen to anyone, i cardiac arrest can happen to anyone, as the collapse of the luton town captain in september showed. he encouraged more people to learn cpr. earlier this week he returned to his club and was given a standing ovation in his game against brighton. he ovation in his game against itrighton-— ovation in his game against briahton. ~~ , ~ brighton. he was very lucky it happened _ brighton. he was very lucky it happened on _ brighton. he was very lucky it happened on the _ brighton. he was very lucky it happened on the football- brighton. he was very lucky it | happened on the football pitch brighton. he was very lucky it. happened on the football pitch in many ways where people knew how to do cpr and there was a defibrillator they're ready to save his life.
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hello from the bbc sports centre. india have levelled the series after winning the second test against england by 106 runs. despite a commendable batting performance from england, they were bowled out for 292. jack crawley top scoring with 73. india were impressive in their bowling, particularly jasprit bumrah, who took nine wickets, finshing with 9—91. ravi ashwin also took 3—72 and is now on 499 test wickets. the series is poised at 1—1. the third test in rajkot starts on 15 february. india have levelled the series after winning the second test against england by 106 runs. it was a comprehensive victory for sri lanka in their one—off test
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against afghanistan, winning by ten wickets.

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