Browse content similar to 01/09/2016. Check below for episodes and series from the same categories and more!
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British Airways resumes flights to Iran for the first | :00:00. | :00:00. | |
But can it really become a global tourist hotspot? | :00:00. | :00:09. | |
Live from London, that's our top story on Thursday | :00:10. | :00:11. | |
Today we find out how attractive flights to Iran will be. | :00:12. | :00:43. | |
Plus - looking for new friends in Africa - | :00:44. | :00:46. | |
Facebook founder Mark Zuckerberg tells us about his plans to sign up | :00:47. | :00:49. | |
The European markets have bounced a bit higher today. We have the latest | :00:50. | :01:00. | |
from the app boss about what he thinks about the European | :01:01. | :01:03. | |
Commission's decision that they will have to basic dividend sums to the | :01:04. | :01:07. | |
Irish government, he says it is maddening and political -- from the | :01:08. | :01:10. | |
Apple boss. How do you handle logistics | :01:11. | :01:16. | |
for events like Davos? Coming up, we meet the man | :01:17. | :01:18. | |
responsible for getting the world's "thinking elite" together at events | :01:19. | :01:21. | |
all around the world. And is Iran on your travel to-do | :01:22. | :01:24. | |
list? We start in Iran - | :01:25. | :01:28. | |
because later this evening the first British Airways flight in almost | :01:29. | :01:42. | |
a decade leaves Heathrow The UK Foreign Office | :01:43. | :01:44. | |
relaxed its travel advice to Iran last July, citing "decreasing | :01:45. | :01:51. | |
hostility under President Rouhani's government" - raising | :01:52. | :01:56. | |
hopes of a boom in both Relations with Iran have thawed, | :01:57. | :01:58. | |
following the implementation of the nuclear deal, | :01:59. | :02:05. | |
and the lifting of US sanctions The Iranian authorities are keen | :02:06. | :02:08. | |
to grow the number of foreign visitors to the country as a much | :02:09. | :02:18. | |
needed source of hard currency. Earlier this year Iran set a target | :02:19. | :02:24. | |
of 20 million tourists a year by 2025 potentially earning | :02:25. | :02:31. | |
the country revenues The gist ago issues and a culture | :02:32. | :02:33. | |
clash. -- logistical issues. Women are expected to conform | :02:34. | :02:49. | |
to local customs like wearing a headscarf - and in | :02:50. | :02:51. | |
some areas full hijab. And few businesses like tour | :02:52. | :02:53. | |
operators and hotels can accept With me is Amir Paivar | :02:54. | :02:55. | |
from the BBC's Persian Service. The Victoria talking us through the | :02:56. | :03:08. | |
challenges, and they also have big ambitions, they want to see 20 | :03:09. | :03:13. | |
million in terms of tourists every year by 2025, is that realistic? It | :03:14. | :03:20. | |
is a very attractive destination as a destination for cultural tourism. | :03:21. | :03:33. | |
Women do head to cover their heads, a small light headscarf will | :03:34. | :03:37. | |
suffice, but still. It has a very diverse geography, deserts, | :03:38. | :03:43. | |
mountains, lakes, some of it as lush as the UK, and also amazing history. | :03:44. | :03:49. | |
The attraction is there, but the problem is, the infrastructure. | :03:50. | :03:55. | |
many new hotels and they are already many new hotels and they are already | :03:56. | :03:59. | |
on the job, one of the fastest-growing sectors in the | :04:00. | :04:04. | |
country after the sanctions were lifted, and there is also the | :04:05. | :04:07. | |
question of domestic flights. Not enough of them. Iran has been | :04:08. | :04:12. | |
suffering from sanctions and has not been able to purchase new jets. The | :04:13. | :04:24. | |
orders are in. Yes, but with the banking sector, there are problems. | :04:25. | :04:28. | |
It is also a question of services in general. All of those have two | :04:29. | :04:33. | |
improved quite significantly in order to cater to that ambitious | :04:34. | :04:41. | |
target. A key problem, for those travelling business travellers who | :04:42. | :04:48. | |
travelled to the United States or Americans citizens, they will have | :04:49. | :04:53. | |
issues in terms of the US Visa situation. That is right, a few | :04:54. | :05:01. | |
months now, a British person does not need a Visa to travel to the | :05:02. | :05:06. | |
United States, but if you travel to Iran, which the US still thinks is a | :05:07. | :05:14. | |
place which has linked to terrorism, then even as a British person or the | :05:15. | :05:22. | |
European, you will need to apply for visas and that will be a problematic | :05:23. | :05:27. | |
thing for people who travel a lot on business, and it will be a turn-off | :05:28. | :05:32. | |
that will put off people from applying for visas and going to | :05:33. | :05:38. | |
Iran. Thanks for joining us. Very interesting developments. Much more | :05:39. | :05:45. | |
information on that on our website. We have a story developing this | :05:46. | :05:49. | |
morning, this regard is Apple and the row over tax, the chief | :05:50. | :05:54. | |
executive Tim Cook has described the ruling that the firm should pay back | :05:55. | :05:58. | |
?11 billion worth of back taxes to the Irish government as political | :05:59. | :06:03. | |
and unfair and he also said it is maddening. This is his first | :06:04. | :06:07. | |
broadcast interview and he said Apple was outraged to be associated | :06:08. | :06:12. | |
with either legality and challenged the calculation stash with | :06:13. | :06:20. | |
illegality. This is his first broadcast. We can listen to what he | :06:21. | :06:28. | |
had to say. Can I ask direct questions, were you given deals | :06:29. | :06:32. | |
which were only available to Apple and word available to any other | :06:33. | :06:39. | |
companies? -- word. No, not a single time. Were you treated differently | :06:40. | :06:44. | |
to everyone else, were you given special treatment? Sweetheart deals? | :06:45. | :06:53. | |
No, never. The European Commission said yesterday, the Commissioner, he | :06:54. | :06:59. | |
said in 2014 Apple paid an effective corporate tax rate of just 0.005%, | :07:00. | :07:10. | |
that is 50 euros out of every 1 million euros profit you made it one | :07:11. | :07:15. | |
of your subsidiaries, do you accept this? No, this is a false number, | :07:16. | :07:21. | |
and I've no idea where the number came from. It is not true. He is the | :07:22. | :07:30. | |
truth, in that year we paid $400 million to Ireland and that amount | :07:31. | :07:36. | |
of money was based on the statutory Irish income tax rate of 12.5%. That | :07:37. | :07:46. | |
was the voice of Tim Cook. The chief executive of Apple speaking to the | :07:47. | :07:51. | |
Irish broadcaster RTP. He is coming out fighting. No surprise that Tim | :07:52. | :07:58. | |
Cook is angry, this ruling by the European Commission cuts to the | :07:59. | :08:03. | |
heart of their tax strategy and he is questioning the commission's | :08:04. | :08:05. | |
interpretation of the facts for a start. Although given the length of | :08:06. | :08:11. | |
the time the commission have been working on this, they will be sure | :08:12. | :08:15. | |
of their ground, as well. Apple has little choice, it is an expensive | :08:16. | :08:21. | |
bill, and this ruling questions whether in the future it will be | :08:22. | :08:24. | |
able to draw up individual tax deals with individual countries because | :08:25. | :08:29. | |
the certainty that Davis, you have a letter from the government which | :08:30. | :08:33. | |
says this tax deal is fine and then a few years later and international | :08:34. | :08:37. | |
body says no it isn't and you have got to pay that money back, that | :08:38. | :08:41. | |
cuts to the heart of the tax planning and it is no surprise that | :08:42. | :08:47. | |
this has happened. Almost impossible to overstate the management of this | :08:48. | :08:50. | |
story, because this is potentially likely to overshadow US elections | :08:51. | :08:57. | |
and the product launch next week for Apple and it will be a huge debt in | :08:58. | :09:02. | |
their finances. It is not just about Apple, the European Commission has | :09:03. | :09:06. | |
been investigating Google, and isn't not just about European companies -- | :09:07. | :09:11. | |
and it isn't just about American companies. Fiat has also been | :09:12. | :09:17. | |
tackled by the commission over its deals with the European government, | :09:18. | :09:21. | |
but the number of European Commissioners have said this is a | :09:22. | :09:24. | |
watershed moment because what the commission is doing is saying that | :09:25. | :09:30. | |
governments are not doing enough to assess the way multinational | :09:31. | :09:36. | |
companies are paying tax, and they have chosen a strategy which tackles | :09:37. | :09:39. | |
them on the ground and says we are not going to put up with this and we | :09:40. | :09:43. | |
are going to use every two to make these companies paid tax -- every | :09:44. | :09:48. | |
tool. Companies said they do everything by the book and by the | :09:49. | :09:53. | |
law and they pay or the taxpayer oh, this is what they say. -- they pay | :09:54. | :10:01. | |
all the tax they owe. We have more about that on the website. | :10:02. | :10:09. | |
Let's go to Asia now, where Canada has been trying | :10:10. | :10:11. | |
to strengthen trade ties with China, its biggest business | :10:12. | :10:13. | |
The Canadian prime minister Justin Trudeau has announced plans to join | :10:14. | :10:17. | |
what's been billed China's version of the World Bank, | :10:18. | :10:19. | |
known as the Asian Infrastructure Investment Bank. | :10:20. | :10:21. | |
It's the same institution the US recently refused to join. | :10:22. | :10:23. | |
This is a political readiness to strengthen ties? Yes, it is | :10:24. | :10:36. | |
interesting, Canada has applied to join and it is the first North | :10:37. | :10:40. | |
American country which has sought membership of the China lead bank | :10:41. | :10:47. | |
and the move was confirmed by the Canadian Prime Minister Justin | :10:48. | :10:50. | |
Trudeau, who is in Beijing on an official visit to boost ties. The | :10:51. | :10:57. | |
China lead bank is a new international development bank and | :10:58. | :11:02. | |
it marks China's most ambitious steps into financial diplomacy and | :11:03. | :11:07. | |
global governance. The Chinese government is seeing Canada's | :11:08. | :11:13. | |
application as a vote of confidence, especially as they tried to convince | :11:14. | :11:24. | |
Washington. They say it will create good jobs and global economic | :11:25. | :11:27. | |
growth. This was initially opposed by the United States but it has | :11:28. | :11:34. | |
attracted many American allies including Britain, Australia and | :11:35. | :11:34. | |
Germany. Thanks for joining us. And now to the Asian markets. Not | :11:35. | :11:40. | |
much has been done to lift spirits. Asian shares dipped on Thursday - | :11:41. | :11:52. | |
lower crude oil prices dented Wall Street and a pair of Chinese | :11:53. | :11:54. | |
manufacturing surveys did little to inspire investors | :11:55. | :11:57. | |
as markets waited to see if US employment data could put | :11:58. | :11:59. | |
the Federal Reserve on track Bounce higher for | :12:00. | :12:02. | |
European equities today. Lets hear what's ahead | :12:03. | :12:04. | |
on Wall Street today. Car sales have helped drive America | :12:05. | :12:08. | |
since the financial crisis, but new car sales have begun slipping in | :12:09. | :12:10. | |
recent months suggesting the boom might be overcome and the latest | :12:11. | :12:13. | |
sales report from global car-makers this Thursday is likely to confirm | :12:14. | :12:19. | |
this. The researcher is forecasting a 2.5% drop from a year ago. But it | :12:20. | :12:24. | |
is not all doom and gloom, the US car industry is still on track to | :12:25. | :12:27. | |
set a new sales record for the entire year. We will also have a | :12:28. | :12:33. | |
look at how manufacturing is doing because it has been slower to pick | :12:34. | :12:37. | |
up in other parts of the economy and investors expect the latest report | :12:38. | :12:42. | |
to show that factory activity slowed down in August. Will that give | :12:43. | :12:48. | |
Federal Reserve officials a pause whether they consider whether to | :12:49. | :12:52. | |
raise interest rates in September? I feel with -- that is all we talk | :12:53. | :13:04. | |
about in this particular area. We have been talking about rates and | :13:05. | :13:08. | |
the payroll figures out. That is overshadowing the markets. And also | :13:09. | :13:13. | |
the Chinese data, surprisingly good, but hardly anyone touching on it. | :13:14. | :13:18. | |
That is the we are so used Chinese data being terrible, and we... We | :13:19. | :13:26. | |
say it is terrible, but sometimes it is not that terrible. The markets | :13:27. | :13:30. | |
react and they already down before the numbers have been released, but | :13:31. | :13:35. | |
these numbers are good out of China. You have got to pick up on the good | :13:36. | :13:41. | |
numbers from China, the world's second-largest economy, it drags | :13:42. | :13:44. | |
everything down when we have bad numbers, and today we have good | :13:45. | :13:47. | |
numbers but we are seeing that come into the markets, but there is no | :13:48. | :13:51. | |
volume out there at the moment. The other thing the markets are | :13:52. | :13:55. | |
struggling with, low interest rates. The story in the Financial Times, | :13:56. | :14:00. | |
Asia clamouring because they are looking for any kind of return, and | :14:01. | :14:05. | |
Saudi Arabia are looking to boost their bond sale as a result, people | :14:06. | :14:10. | |
are chasing yield. This could be one of the biggest bond sales ever, this | :14:11. | :14:14. | |
is a norm is, they are looking to sell $15 billion worth of bonds -- | :14:15. | :14:20. | |
this is enormous. They are massively over subscribed. One of the reasons | :14:21. | :14:29. | |
for them doing this is because of the oil price, which has fallen | :14:30. | :14:35. | |
quite aggressively. We can't rely on the oil price anywhere above $50 at | :14:36. | :14:40. | |
the moment and it seems that we get $10 swings within a couple of days | :14:41. | :14:44. | |
at the moment, and the Saudis do not want to be so reliant on the oil | :14:45. | :14:49. | |
stockpiles, and it looks like Babel raise a lot of money when this | :14:50. | :14:53. | |
happens, -- and it looks like they will raise a lot of money when this | :14:54. | :14:57. | |
happens. There are billions and billions of dollars heading to the | :14:58. | :15:03. | |
Saudis. The other big story of the week, Apple and the European | :15:04. | :15:07. | |
Commission, going after the taxes it is supposedly owing and Tim Cook has | :15:08. | :15:17. | |
seemed very hacked. Not surprisingly. | :15:18. | :15:23. | |
He suddenly has a 13 billion euros will pay up. We know the tax | :15:24. | :15:32. | |
situation for the likes of Apple and Google has been a global issue for a | :15:33. | :15:35. | |
long time, and it was only a matter of time before this happened. It | :15:36. | :15:39. | |
will be interesting to see how this fits the share price. It overshadows | :15:40. | :15:52. | |
the iPhone announcement. Thank you, James. Still to come we are going to | :15:53. | :16:00. | |
meet the man with one of the most impressive contact Bucks in the | :16:01. | :16:02. | |
business. Richard Attias is behind events | :16:03. | :16:05. | |
as diverse as Davos, peace summits, You're with Business | :16:06. | :16:08. | |
Live from BBC News. We have to talk about football. It | :16:09. | :16:15. | |
has been another record-breaker. The Premier League's summer transfer | :16:16. | :16:19. | |
window has slammed shut, and spending has surpassed ?1bn | :16:20. | :16:21. | |
for the first time as clubs scramble to outspend each other | :16:22. | :16:24. | |
to secure the best players. Manchester United sealed | :16:25. | :16:26. | |
by far the biggest deal, spending a world record ?89m | :16:27. | :16:32. | |
on securing Paul Pogba. We can speak to Omar Chaudhuri, | :16:33. | :16:39. | |
Head of Football Intelligence Omar, is it really that | :16:40. | :16:41. | |
surprising that huge amounts are being spent on players | :16:42. | :16:45. | |
when clubs are richer than ever? Not really. If you look at inflation | :16:46. | :16:58. | |
in revenues of the last few years, particularly from the last domestic | :16:59. | :17:05. | |
TV deal, which went up to ?5 billion over the next three years, Premier | :17:06. | :17:09. | |
League clubs are earning more than they ever have. If you look at the | :17:10. | :17:12. | |
proportion of transfer fees relative to that revenue, it is more and line | :17:13. | :17:17. | |
with what we have seen historically, perhaps even less. Although the | :17:18. | :17:20. | |
headline figure is large, it is not surprising that clubs are spending | :17:21. | :17:26. | |
this much money now. In terms of where this will end, every year | :17:27. | :17:29. | |
there is a debate about how much footballers are paid. It seems to be | :17:30. | :17:36. | |
endless. There is no cap, despite the argument that they are massively | :17:37. | :17:41. | |
overpaid. They are paid a lot of money. You have to consider the | :17:42. | :17:47. | |
context. Football clubs are unlike any other business. It is rare in | :17:48. | :17:51. | |
business that such a material part of the business depends on a few | :17:52. | :17:58. | |
individuals. If clubs lost their star players, they would be | :17:59. | :18:02. | |
considerably worse. That is unlike a bank or any other company. People | :18:03. | :18:07. | |
are willing to pay to watch them. The grounds of the Premier League | :18:08. | :18:11. | |
are largely sold out and there is a worldwide audience bigger than any | :18:12. | :18:13. | |
other league in the world. Although the headline figures look back, they | :18:14. | :18:18. | |
are in proportion to the value of those players to the teams, and | :18:19. | :18:28. | |
revenues, which have gone up. Moron the business live page for that | :18:29. | :18:34. | |
story. We have been # More on the business live page for | :18:35. | :18:36. | |
that story. British Airways is resuming flights | :18:37. | :19:05. | |
to Iran for the first time in almost a decade. | :19:06. | :19:05. | |
A quick look at how markets are faring. | :19:06. | :19:10. | |
The oil price is up, helping energy companies. Markets are treading | :19:11. | :19:19. | |
water ahead of Friday's News from the US, as interest rates there | :19:20. | :19:28. | |
might increase. Let's get the inside track. | :19:29. | :19:35. | |
In the '90s, Richard Attias met a German economics | :19:36. | :19:38. | |
scholar named Klaus Schwab, the founder of the World | :19:39. | :19:49. | |
Developing the largest global meetings of world leaders. | :19:50. | :19:55. | |
In the '90s, Richard Attias met a German economics | :19:56. | :19:57. | |
scholar named Klaus Schwab, the founder of the World | :19:58. | :19:59. | |
He hired Mr Attias to handle logistics for Davos | :20:00. | :20:03. | |
Other gatherings he's been behind are: the Clinton Global Initiative, | :20:04. | :20:08. | |
the Middle East Peace Summit in Jordan, and the launch | :20:09. | :20:11. | |
Attias is also the founder and chairman of the New York Forum, | :20:12. | :20:17. | |
an annual invitation-only forum for global CEOs, economists | :20:18. | :20:19. | |
and business leaders to share ideas and provide recommendations | :20:20. | :20:23. | |
for new business models in a post-crisis world. | :20:24. | :20:34. | |
He is with as in the studio. He managed to squeeze our sin. Thank | :20:35. | :20:41. | |
you for joining us. Your brief is huge. There is so much that you | :20:42. | :20:45. | |
cover of these big events, but tell us how you got into it. How do you | :20:46. | :20:51. | |
become someone who organises Davos and other big events? I was a civil | :20:52. | :20:57. | |
engineer, so I should have been building bridges and buildings, but | :20:58. | :21:02. | |
I had the privilege to be born in Morocco, an Arab Muslim country. I | :21:03. | :21:10. | |
am Jewish, and I was surrounded by people who were religious. It is | :21:11. | :21:15. | |
important to talk about that today. I am someone who believes | :21:16. | :21:19. | |
intolerance, in dialogue, and at the end of the day, the weighted solve | :21:20. | :21:29. | |
the issue is the world is facing is to put people together. We are | :21:30. | :21:32. | |
living in a socially networked world today, but nothing is better than | :21:33. | :21:36. | |
putting people together. That is why this gathering of people is | :21:37. | :21:41. | |
important to have a better understanding of who people are, in | :21:42. | :21:45. | |
countries are, who compilations are. It is important to put people | :21:46. | :21:55. | |
together. -- who corporations. Today we are talking about Donald Trump's | :21:56. | :21:59. | |
speech and this wall he is going to build between North America and | :22:00. | :22:04. | |
Mexico. We have a UK leaving the EU. It seems to be more about division | :22:05. | :22:10. | |
today as opposed to collaboration. It is about understanding. There is | :22:11. | :22:17. | |
a Chinese proverb that talks about people building more balls than | :22:18. | :22:22. | |
bridges. These conferences are important. This is why we are trying | :22:23. | :22:28. | |
to explain to people who countries are, who people are. You start with | :22:29. | :22:34. | |
the British Airways flights going to Iran. I think it makes a lot of | :22:35. | :22:41. | |
sense, because there is one which bite-mac thing which is the | :22:42. | :22:44. | |
political aspect of Iran, but there also the people. The same story in | :22:45. | :22:46. | |
Africa. There are a lot of countries Africa. There are a lot of countries | :22:47. | :22:53. | |
that are not politically correct, are not democracies, but the people | :22:54. | :22:59. | |
of these countries are very open to start relationships with Western | :23:00. | :23:02. | |
countries. They want to take the best ask, I would say. This is why | :23:03. | :23:09. | |
it is not to isolate countries and to brand them. Brand them with what | :23:10. | :23:15. | |
they have cinema their assets, their people. That is your primary | :23:16. | :23:19. | |
objective, the branding of Nations, isn't it? Do you think Iran suffers | :23:20. | :23:24. | |
from a perception problem? Perception is important. The same | :23:25. | :23:28. | |
thing in the UK after Brexit. We are trying to work on branding a nation, | :23:29. | :23:33. | |
to change the perception. This is what we're to do in a few days. ... | :23:34. | :23:40. | |
This is what we're trying to do. In a few days, we will in Argentina. | :23:41. | :23:45. | |
The perception, which is sometimes right, is that these South American | :23:46. | :23:52. | |
countries are corrupted. Not easy rule of law, not easy to do | :23:53. | :23:57. | |
business. We will try to change this perception by presenting Argentina | :23:58. | :24:02. | |
as it will be in the future, with new leadership. It has been great to | :24:03. | :24:07. | |
have you. I wish we could talk for longer. Time is not on our site. See | :24:08. | :24:11. | |
you next time. That is it from Business Live today. More tomorrow. | :24:12. | :24:18. | |
See you soon. Apparently not! We have loads more time! | :24:19. | :24:26. | |
To Nigeria now where the founder of Facebook, Mark Zuckerberg, | :24:27. | :24:28. | |
has been making his first trip to Africa this week. | :24:29. | :24:31. | |
The billionaire has defended Facebook's decision to continue | :24:32. | :24:42. | |
There are 1 billion people in Africa, and I wanted to listen and | :24:43. | :24:48. | |
learn and figure out what we could do to empower people to build the | :24:49. | :24:53. | |
types of services that are not only improving lives of people here but | :24:54. | :24:56. | |
all around the world. How will you improve internet | :24:57. | :25:00. | |
access? There was controversy when you did it in India. It is a 3-step | :25:01. | :25:06. | |
plan. First, we need to make sure there is network access everywhere. | :25:07. | :25:10. | |
In some places there is a good cellphone signal, so we're launching | :25:11. | :25:15. | |
satellites to beam down internet, or we are looking at solar powered | :25:16. | :25:20. | |
planes to fly over rural areas. I think that is it. We squeezed in a | :25:21. | :25:25. | |
lot today. Thank you for your time, and do join us tomorrow. Same time, | :25:26. | :25:27. | |
same place. Goodbye. Hello. Some nice weather for most of | :25:28. | :25:51. | |
us | :25:52. | :25:52. |