Browse content similar to 19/02/2016. Check below for episodes and series from the same categories and more!
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Now for the latest financial news with World Business Report. | :00:00. | :00:16. | |
Here's a question - would Britain's exports really suffer | :00:17. | :00:20. | |
We continue the business debate over Brexit. | :00:21. | :00:28. | |
New US rules mean all wannabe pilots will have to register. | :00:29. | :00:33. | |
We'll be finding out what it means for this buzzing new industry. | :00:34. | :00:50. | |
It is Friday. Don't we love it? We have 8.5 minutes. I will give you a | :00:51. | :01:02. | |
snapshot of everything in the world of business and money preparing to | :01:03. | :01:06. | |
head into the weekend. It is only eight minutes now. We will also be | :01:07. | :01:10. | |
talking about Uber, losing billions in China. There is no escaping it. | :01:11. | :01:16. | |
We start once again with the big debate over Brexit - | :01:17. | :01:19. | |
is Britain's future inside or outside the European Union? | :01:20. | :01:21. | |
As negotiations continue in Brussels, we are focusing | :01:22. | :01:23. | |
Among the many thorny issues, it's perhaps the one that affects | :01:24. | :01:28. | |
businesses the most, and it's been the subject of fierce debate. | :01:29. | :01:35. | |
Pro-EU campaigners say leaving the EU would be catastrophic | :01:36. | :01:37. | |
But the pro-Brexit lobby says that is mere scaremongering. | :01:38. | :01:49. | |
Let's show you some of the numbers involved. | :01:50. | :01:51. | |
At the moment, as a bloc, the EU represents Britain's biggest | :01:52. | :01:54. | |
accounting for around half of all of UK's trade. | :01:55. | :02:00. | |
EU membership gives easy access to the markets | :02:01. | :02:02. | |
But also to 68 other nations via free trade deals they hold with | :02:03. | :02:08. | |
In all, that trade is worth a total of $670 billion to the UK - | :02:09. | :02:18. | |
according to research compiled for the pro-EU lobby. | :02:19. | :02:26. | |
Now, pro-Brexit campaigners argue that of | :02:27. | :02:30. | |
course Britain will continue to do business with all of those countries | :02:31. | :02:33. | |
and will negotiate new - and even better - trade terms with them. | :02:34. | :02:37. | |
To avoid losing out, though - it would have to agree at least 35 | :02:38. | :02:41. | |
separate trade agreements in a short space of time. | :02:42. | :02:48. | |
Just another little point that's worth making - | :02:49. | :02:50. | |
amid all the growing uncertainty over Brexit, investor confidence in | :02:51. | :02:52. | |
the UK has been dented - the pound has lost almost 10% of its value | :02:53. | :02:56. | |
Ironically, that's been a bonus for UK exporters! | :02:57. | :03:08. | |
So what about Britain's other huge partner - the US? | :03:09. | :03:11. | |
Would Brexit help or hinder that relationship? | :03:12. | :03:15. | |
Michelle Fleury in New York has been finding out | :03:16. | :03:22. | |
A little slice of the UK here in Europe. Expats and Anglophile 's | :03:23. | :03:30. | |
have flopped to the shop for decades to get their Britain fix. The | :03:31. | :03:35. | |
relative Jupiter in the US and UK is a cosy one, but what would a | :03:36. | :03:40. | |
possible exit to do this special relationship? Would UK imports | :03:41. | :03:46. | |
suddenly be subject to trade barriers if they left the EU? | :03:47. | :03:51. | |
According to this man, the US is not keen on cutting a separate | :03:52. | :03:55. | |
free-trade deal with Britain if it left the European Union. And it may | :03:56. | :04:01. | |
not be bluster. This law professor says the US is focused on deals with | :04:02. | :04:07. | |
other big box, from the recently agreed pact with the 11 Pacific | :04:08. | :04:10. | |
economies to the one it is now negotiating with the EU. The kind of | :04:11. | :04:14. | |
deals the US are looking for our platform deals, the big regional | :04:15. | :04:19. | |
trade backs where the benefits are so great that the cost of trying to | :04:20. | :04:23. | |
obtain those deals worth it, and second, we have a big deal where the | :04:24. | :04:27. | |
other countries can join. The UK deal alone does not meet that test. | :04:28. | :04:33. | |
What is at stake? The US is the second-biggest export market for UK | :04:34. | :04:38. | |
after the EU. Americans bought more than $54 billion worth of goods from | :04:39. | :04:46. | |
the UK in 2014. Cars are a popular export, but if Britain leaves the EU | :04:47. | :04:50. | |
and is not part of the free-trade deal, vehicles back this jaguar | :04:51. | :04:54. | |
would be more expensive than their Italian or German rivals. And if | :04:55. | :04:58. | |
Washington went to a separate deal with UK, this undermines a key | :04:59. | :05:02. | |
argument made by those in Britain who want out. But not so fast. Exit | :05:03. | :05:08. | |
supporters can count on some backing from conservatives. I think in the | :05:09. | :05:13. | |
case of the United States and Great Britain, a free-trade agreement | :05:14. | :05:17. | |
could be concluded very rapidly. After all, the economic and | :05:18. | :05:24. | |
historical and foreign policy links between the United Kingdom and the | :05:25. | :05:27. | |
United States are very deep. Even among Anglophile 's, the Brexit saga | :05:28. | :05:33. | |
has passed many Americans buy. It is not that the special relationship is | :05:34. | :05:38. | |
no longer special, it is just that many US businesses and politicians | :05:39. | :05:41. | |
don't yet understand what the consequences of leaving might be. | :05:42. | :05:48. | |
We will keep across the Brexit debate. We are also taking a look at | :05:49. | :05:55. | |
these. Last year more than 4 million were | :05:56. | :05:56. | |
sold around the world, and they are providing | :05:57. | :06:00. | |
a headache for the authorities. The US is among countries trying to | :06:01. | :06:03. | |
regulate their use Today is the deadline | :06:04. | :06:06. | |
for US owners to register their drone with the Federal | :06:07. | :06:11. | |
Aviation Administration under new Let's cross to the US | :06:12. | :06:13. | |
and talk to Jim Fisher. and he joins us via webcam from | :06:14. | :06:23. | |
New Jersey. Great to have you with us. Just | :06:24. | :06:36. | |
briefly, I can only imagine the concerns in the United States are | :06:37. | :06:41. | |
the same as the concerns here, flying too close to aircraft, | :06:42. | :06:44. | |
especially passenger aircraft, popping into prisons, drug | :06:45. | :06:50. | |
smuggling, those kind of things. Yes, we have certain laws in place | :06:51. | :06:56. | |
already to govern radio controlled aircraft, which were a niche | :06:57. | :07:02. | |
industry before drones came popular. Civilian aviation is at 400 or 500 | :07:03. | :07:12. | |
feet. There is a bit of a buffer there. There is also a 5-mile radius | :07:13. | :07:17. | |
around airports, which is a no-fly zone, and there are no-fly zones | :07:18. | :07:21. | |
around national parks, major sporting events and other ferries | :07:22. | :07:27. | |
things -- various things around the city. Tell us just briefly, how does | :07:28. | :07:36. | |
this registration work? You buy a drone, you register your name | :07:37. | :07:41. | |
against us your name, you are on the database, but it will not teach you | :07:42. | :07:45. | |
to flight responsibly? The registration is based on user, not | :07:46. | :07:50. | |
aircraft, and is for drains away between 250 g and 25 kg, in metric | :07:51. | :08:02. | |
-- drones. Anyone can buy a register those for a $5 fee online. Do you | :08:03. | :08:12. | |
think this is been a hot industry in terms of sales? They have been | :08:13. | :08:15. | |
literally flying off the shelf. Do you think this new ball will put a | :08:16. | :08:22. | |
bit of a break on sales? -- new law. I'd exert. The timing of the | :08:23. | :08:29. | |
registration system, four days before Christmas, the FAA was trying | :08:30. | :08:33. | |
to get users who unwrapped one under the tree to register it immediately. | :08:34. | :08:37. | |
If you register it within the first two weeks, the $5 fee was waived. | :08:38. | :08:44. | |
That is when I registered. If you have multiple aircraft, you could do | :08:45. | :08:47. | |
one registration and that covers everything you own. You print out a | :08:48. | :08:53. | |
sticker and fix it to your aircraft. We appreciate you staying up for us. | :08:54. | :08:55. | |
Thank you for joining us. Let's go | :08:56. | :09:02. | |
from the US to Asia now, where taxi app Uber is losing - not a car load | :09:03. | :09:05. | |
but a TRUCK LOAD of money. Happy Friday. How is this like | :09:06. | :09:18. | |
losing money? It doesn't own anything. Yes, they are losing about | :09:19. | :09:26. | |
$1 billion a year in China. That is as it struggles against what it | :09:27. | :09:30. | |
calls a fierce competitor. This is from Uber CEO, who made that comment | :09:31. | :09:37. | |
at an event according to a Canadian news tech side. They have to compete | :09:38. | :09:42. | |
with a local rival which is backed by Chinese technology giants. Both | :09:43. | :09:50. | |
Uber and its competitor has spent heavily to subsidise rides to gain | :09:51. | :09:53. | |
market share, because they are both betting on China's future potential. | :09:54. | :10:01. | |
This year it was quoted saying they were in a better position than its | :10:02. | :10:04. | |
Chinese rival because it could fund its losses partly by using profits | :10:05. | :10:10. | |
from other countries -- the CEO. We know Uber is available in more than | :10:11. | :10:15. | |
40 cities in China. It will continue to expand into another 100 cities. | :10:16. | :10:16. | |
Thank you. We will talk to you soon. Don't forget you can get | :10:17. | :10:25. | |
in touch with me and some of the A complete Bronze Age wheel, | :10:26. | :10:37. | |
believed to be the largest | :10:38. | :10:40. |