Browse content similar to 09/02/2017. Check below for episodes and series from the same categories and more!
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Will open skies stay open under President Trump? | :00:07. | :00:18. | |
US airline bosses take their grievances to the White House today. | :00:19. | :00:22. | |
Top of the list, their fast-growing rivals from the Gulf. | :00:23. | :00:29. | |
Could the President's love of Twitter stop the rot | :00:30. | :00:34. | |
Some of you are going, what is he doing, it isn't even Friday? I will | :00:35. | :01:06. | |
tell you what, give me a minute and I will give you a snapshot of the | :01:07. | :01:08. | |
world of business and money. We start in Washington, | :01:09. | :01:10. | |
where the bosses of America's top airlines and airports are due | :01:11. | :01:13. | |
to meet President Trump There are some major issues | :01:14. | :01:15. | |
on the table that could affect As we know from his inauguration | :01:16. | :01:20. | |
speech, Mr Trump said That could mean a major | :01:21. | :01:25. | |
boost for Boeing. If he leans on US airlines | :01:26. | :01:37. | |
to buy from them. European rival Airbus also operates | :01:38. | :01:40. | |
factories in the US, and buys billions of dollars worth | :01:41. | :01:46. | |
of US components, like engines. It claims to support | :01:47. | :01:57. | |
245,000 US jobs. Then there's the issue of foreign | :01:58. | :01:59. | |
airlines operating in the US. This one, Norwegian, | :02:00. | :02:05. | |
was given a foreign carrier licence, allowing them to expand their routes | :02:06. | :02:07. | |
to and from the US, as one of the last acts of | :02:08. | :02:11. | |
the Obama administration. This caused howls of protest from US | :02:12. | :02:14. | |
airlines and unions. Norwegian says its creating at least | :02:15. | :02:22. | |
150 new US jobs and has ordered more than $18 billion worth | :02:23. | :02:27. | |
of planes from Boeing. So, what about the whole | :02:28. | :02:33. | |
question of open skies, the deals that mean countries | :02:34. | :02:35. | |
open their routes to each other? The US currently has 120 | :02:36. | :02:38. | |
open skies agreements. US airline bosses are particularly | :02:39. | :02:48. | |
unhappy about the expansion of Emirates, Etihad Airways, | :02:49. | :02:54. | |
and Qatar Airways in the US. Last week they wrote | :02:55. | :03:01. | |
to the government claiming Gulf carriers have received $50 billion | :03:02. | :03:04. | |
in handouts from their governments over the past decade, | :03:05. | :03:07. | |
something the Gulf airlines deny. The President of Emirates has long | :03:08. | :03:14. | |
argued that an attack on their business by Washington | :03:15. | :03:16. | |
would only damage the US economy. It is far too important for the US | :03:17. | :03:39. | |
economy for multiple reasons - for the activities of the Gulf carriers | :03:40. | :03:43. | |
to be cut back, because once you do that and you close the open skies | :03:44. | :03:47. | |
that you have today it has enormous ramifications. The US economy would | :03:48. | :03:52. | |
be severely affected by a closure, a shutting down of the open skies | :03:53. | :03:55. | |
arrangement, which has manifestly produced huge amounts of wealth for | :03:56. | :04:01. | |
Aerospace, Boeing, General Electric as well as everything else. | :04:02. | :04:05. | |
You and I know him quite well, Tim Clark, he is a big figure in the | :04:06. | :04:11. | |
industry. John Strickland, director of JLS | :04:12. | :04:11. | |
Consulting, joins me now. Thank you for coming in at this | :04:12. | :04:20. | |
horrid hour. You always do it, you need a medal. So, Tim Clark has a | :04:21. | :04:24. | |
point, doesn't he, and it is interesting because he is the boss | :04:25. | :04:28. | |
of the airline Emirates which is the one the US airlines are gunning for, | :04:29. | :04:36. | |
are they? Yes, the big airlines put in a complaint about the Gulf | :04:37. | :04:40. | |
carriers. They wanted to go to Congress. They made allegations of | :04:41. | :04:44. | |
unfair competition, these carriers from the Gulf came into the market, | :04:45. | :04:49. | |
and the document originally produced, which was about 50 pages, | :04:50. | :04:54. | |
the three Gulf carriers issued rebuttals into the hundreds of | :04:55. | :04:58. | |
pages, evidence countering the arguments, these carriers have | :04:59. | :05:01. | |
increased their services, the boss of Kata Airways told me last year, I | :05:02. | :05:08. | |
have at world US mayors in my office imploring me to start services to | :05:09. | :05:11. | |
the US -- Qatar Airways. The key beyond the end services and what it | :05:12. | :05:15. | |
means for access to major US cities which of course is all part of the | :05:16. | :05:19. | |
economy and job creation and so on is these guys by large numbers of | :05:20. | :05:22. | |
Boeing aircraft and a massive customers for Boeing. If there is | :05:23. | :05:26. | |
any poster boy for jobs it is Boeing. You are right that all three | :05:27. | :05:31. | |
are fast-growing and Emirates has been around since the 1980s but they | :05:32. | :05:37. | |
are all fast-growing and they purchase a lot of aircraft, they | :05:38. | :05:41. | |
seem to have the money compare to others, but is it at a point where | :05:42. | :05:44. | |
the worry is if President Trump says, OK, you know what, I am | :05:45. | :05:48. | |
scrubbing the open skies with the UAE and the Gulf regions, they will | :05:49. | :05:59. | |
save goodbye to Boeing and go to Airbus. With the buyback and jobs | :06:00. | :06:04. | |
for America, the aerospace industry, not only Boeing, sub suppliers and | :06:05. | :06:08. | |
engine manufacturers, are a massive part of the economy and support jobs | :06:09. | :06:13. | |
at home. We don't have a unified view in the airline community. The | :06:14. | :06:16. | |
D3 might lobby against Gulf carriers but others like Federal Express have | :06:17. | :06:21. | |
the reverse ID and they say the open skies agreements which allow the | :06:22. | :06:27. | |
Allied in our positive -- idea. They are positive for job creation. The | :06:28. | :06:31. | |
message is not even united in the industry. And the irony of it is | :06:32. | :06:36. | |
open skies, which many countries use, is a US concept. I have to ask, | :06:37. | :06:42. | |
if President Trump listens to airline bosses and rips up the open | :06:43. | :06:46. | |
skies with parts of the Gulf area, that will have a huge ramifications | :06:47. | :06:51. | |
for the global aviation industry. It could have a massive effect because | :06:52. | :06:55. | |
the US is the origin of these open skies agreement and they have been | :06:56. | :06:59. | |
seen as positive to global trade, positive to economic development in | :07:00. | :07:03. | |
tourism and airlines from the US and other countries, in whichever | :07:04. | :07:07. | |
partnership of open skies the US has formed, have developed air services | :07:08. | :07:11. | |
in part of a 21st-century economy. Aviation is so fundamental not only | :07:12. | :07:16. | |
directly for what it creates but how it supports and catalyses economic | :07:17. | :07:19. | |
growth more broadly so it will be a very interesting meeting today. | :07:20. | :07:22. | |
Indeed, we are going to be watching it closely. Thank you for coming in. | :07:23. | :07:27. | |
We appreciate it. Let's move on quickly. | :07:28. | :07:29. | |
It has been struggling to grow its user base and to make | :07:30. | :07:36. | |
Those are the main reasons why Twitter shares are down by almost | :07:37. | :07:40. | |
But could the election of avid Twitter user Donald Trump be giving | :07:41. | :07:45. | |
Analysts have been pointing out a rise in people | :07:46. | :07:49. | |
They say that could help Twitter finally find a buyer. | :07:50. | :07:59. | |
James Erskine is director of the online marketing company | :08:00. | :08:01. | |
It is good to see you and thank you for coming in. Let me ask you, | :08:02. | :08:13. | |
Twitter, you know, we are here again, Facebook when it went public | :08:14. | :08:17. | |
with were saying the same thing, it has to learn how to make money, it | :08:18. | :08:22. | |
has to learn how to make money from the users and it has done that. | :08:23. | :08:26. | |
Twitter still hasn't done that. It hasn't, no, and there are a number | :08:27. | :08:31. | |
of reasons we see for that, social circle, it is our job to see how | :08:32. | :08:35. | |
people engage with content across lots of different social media | :08:36. | :08:39. | |
platforms and Twitter, we are starting to see people see authentic | :08:40. | :08:45. | |
content from real people, and slowly they are starting to engage, so | :08:46. | :08:49. | |
Twitter before was having a problem with people using it more like a | :08:50. | :08:52. | |
newsfeed rather than a social network. One thing you need from a | :08:53. | :08:56. | |
social network is engage in it. Things to engage with. I have to | :08:57. | :09:03. | |
ask, talking of engaging, President Trump has been very engaged on | :09:04. | :09:07. | |
Twitter. Do you think that could actually give the company a boost? | :09:08. | :09:12. | |
You know, I think it could not necessarily because of him | :09:13. | :09:16. | |
specifically but more what it is indicative of, so fierce political | :09:17. | :09:22. | |
discourse and debate amplified in an online environment. We also saw it | :09:23. | :09:25. | |
with Brexit as well, Twitter have lots and lots of opinions around the | :09:26. | :09:31. | |
key political issues and I suppose the next step is what else people | :09:32. | :09:36. | |
can debate, so, does it go beyond politics, to other niche communities | :09:37. | :09:40. | |
where they can have those back and forth opinions? OK, will they find a | :09:41. | :09:46. | |
buyer, yes or no, I have to go, will they? Eventually, yes, it is all | :09:47. | :09:50. | |
about the content on Twitter to allow them to do that. We appreciate | :09:51. | :09:55. | |
your time, short and sweet, thank you very much, and I will be back to | :09:56. | :09:59. | |
look at the papers from around the world. Follow me on Twitter. I will | :10:00. | :10:01. | |
see you shortly. A new law designed to help protect | :10:02. | :10:10. | |
people in England from so called revenge evictions by rogue | :10:11. | :10:14. | |
landlords isn't working. That's according to senior MPs | :10:15. | :10:16. | |
and housing lawyers. | :10:17. | :10:19. |