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BBC World News. Now for the latest financial news | :00:00. | :00:00. | |
with Sally Bundock in World Business Report. | :00:00. | :00:14. | |
Going the long haul. Norwegian is launching budget flights from Europe | :00:15. | :00:20. | |
to the US, but will it succeed where other low cost carriers have failed? | :00:21. | :00:27. | |
Use by, sell by or best before? Are supermarkets guilty of causing | :00:28. | :00:30. | |
unnecessary food waste on a grand scale? | :00:31. | :00:36. | |
Welcome to World Business Report. I'm Sally Bundock. Also in the | :00:37. | :00:44. | |
programme: As Indonesia gears up for elections, we hear what its Finance | :00:45. | :00:47. | |
Minister says about the challenges ahead. | :00:48. | :00:54. | |
In a few hours, a Boeing 787 Dreamliner will take off from | :00:55. | :00:56. | |
London's Gatwick Airport, heading across the Atlantic to Los Angeles. | :00:57. | :01:00. | |
The plane will be in the colours of the budget airline Norwegian. But | :01:01. | :01:03. | |
the flight represents more than just another new route for the | :01:04. | :01:04. | |
fast`growing Scandinavian carrier. It marks the return of lower`cost | :01:05. | :01:10. | |
long`haul travel. After success within Europe, Norwegian has done | :01:11. | :01:13. | |
its sums and believes it will succeed where many other carriers | :01:14. | :01:16. | |
have so far failed in cutting fares on much longer hops. Our European | :01:17. | :01:18. | |
business correspondent, Nigel Cassidy, reports. | :01:19. | :01:32. | |
Cheap and cheerful, no`frills flights across the Atlantic are not | :01:33. | :01:38. | |
new. It is more than 30 years since Britain's sir Freddie later took the | :01:39. | :01:41. | |
industry giants and failed in the attempt. Inventory 1982 his airways | :01:42. | :01:49. | |
was granted for good, if skytrain couldn't cope with skyhigh oil | :01:50. | :01:53. | |
prices and half empty planes in winter `` Laker. More recently, | :01:54. | :02:02. | |
one`time Malaysian music executive, Tony Fernandez, tried to get the | :02:03. | :02:05. | |
long haul low`cost flights started, though his plans were too thirsty to | :02:06. | :02:09. | |
make the economics work, flying routes from Asia to Europe. 2.5 | :02:10. | :02:13. | |
years ago, he ended services to London and Paris. Now, Norwegian | :02:14. | :02:21. | |
hopes the Boeing 787 Dreamliner will allow it to succeed where its | :02:22. | :02:26. | |
predecessors failed. This week, it is flying to Los Angeles, New York | :02:27. | :02:30. | |
and Florida with London Gatwick. Fares won't be as low as air Asia | :02:31. | :02:35. | |
was aiming for. It believes that lower cost transatlantic travel, | :02:36. | :02:44. | |
with its trial from Oslo, could be sustainable `` Air Asia. US airline | :02:45. | :02:49. | |
pilot oppose the way the airline sets up subsidiaries in other | :02:50. | :02:52. | |
countries to recruit staff under local employment conditions. | :02:53. | :02:57. | |
Washington seems in no move `` mood for a train trade war. You can | :02:58. | :03:02. | |
expect more competitors to use the latest plans to cut fares between | :03:03. | :03:12. | |
continents. `` trade war. With me is Toby Nicol from the World Travel and | :03:13. | :03:20. | |
Tourism Council. He also worked for easyJet. They are offering a flight | :03:21. | :03:25. | |
from London to New York for ?150, $260. How good is it? It is a fair | :03:26. | :03:32. | |
deal. If you double that to make a return you get to ?300, $500. When | :03:33. | :03:37. | |
you add other bits and pieces, baggage, food and taxes of course, | :03:38. | :03:43. | |
you get relatively close to the cheapest available fares. | :03:44. | :03:51. | |
Particularly Virgin Atlantic, reddish airways, united American and | :03:52. | :03:54. | |
so on. It will depend on how many seats they have available `` British | :03:55. | :04:02. | |
Airways. As was outlined, others have tried this and they haven't | :04:03. | :04:06. | |
pulled it off. Will this business model succeed? They have every | :04:07. | :04:11. | |
chance for the reason that technology is now available to do | :04:12. | :04:16. | |
it. Starting with Freddie Laker in the 70s and everyone since then, the | :04:17. | :04:22. | |
planes have been too thirsty. The arrival of the Boeing 787 | :04:23. | :04:27. | |
Dreamliner, in the industry, it is changing the economic of the | :04:28. | :04:31. | |
industry. If it can be 20% cheaper on fuel burn, that is a huge saving. | :04:32. | :04:37. | |
That is what will underpin the success or not. When you are at | :04:38. | :04:42. | |
easyJet, were they trying to make this happen? We never looked at it. | :04:43. | :04:46. | |
None of the major European airlines have looked at it. One of the things | :04:47. | :04:51. | |
keeping costs low in the low`cost airline is sticking to your | :04:52. | :04:55. | |
knitting. If you operate within Europe on flights up to 3.5 hours, | :04:56. | :04:59. | |
stick to that and don't change, don't get distracted by flying long | :05:00. | :05:04. | |
haul. That was what we always said. Norwegian frigate have cracked it. | :05:05. | :05:11. | |
We will watch with interest. All this week we're looking at the | :05:12. | :05:14. | |
food that gets wasted around the world and what can be done to stop | :05:15. | :05:18. | |
it. In the developed world, the biggest wasters of food is us, the | :05:19. | :05:21. | |
consumer at home. In Europe alone, we throw away millions of tons of | :05:22. | :05:24. | |
fresh produce a year, the average household in Europe wastes over | :05:25. | :05:27. | |
$1000 a year on food that is thrown away. Nearly 15% of this food waste | :05:28. | :05:31. | |
has been untouched and unopened because it has passed its sell by | :05:32. | :05:33. | |
date. Currently confusion over food date labelling is the root cause of | :05:34. | :05:37. | |
the majority of our household waste. So what can the consumer need to do | :05:38. | :05:40. | |
so it wastes less food? Chloe Hayward reports. | :05:41. | :05:56. | |
What would you like? Lunchtime in this household. Carrots? She tries | :05:57. | :06:03. | |
hard to not waste fruit and vegetables. Once it is past its sell | :06:04. | :06:10. | |
by date, it ends up in the bin. It has gone soggy and is past its sell | :06:11. | :06:16. | |
by date. Since having children, I am more cautious about what I see | :06:17. | :06:20. | |
them. I wouldn't want to get the kids seek. If you are past a sell by | :06:21. | :06:26. | |
date, it's so is a seed of doubt and with children you will obviously be | :06:27. | :06:33. | |
a little more cautious. Currently in the EU, 100 million tons of food is | :06:34. | :06:37. | |
thrown out every year. 15 million tons of that comes from households | :06:38. | :06:41. | |
that have thrown away goods past their best before date. Now, the | :06:42. | :06:44. | |
European Commission is trying to do something about that, cabling plans | :06:45. | :06:49. | |
to scrap compulsory best before dates on dried goods such as pastor | :06:50. | :06:53. | |
and rice and spread as well as condiments like these. They think | :06:54. | :06:57. | |
that without the best before date, food waste will be reduced | :06:58. | :07:02. | |
dramatically `` pasta. Despite the plans, supermarkets say that date | :07:03. | :07:07. | |
labels are important. Display until dates, use by date and best before | :07:08. | :07:11. | |
dates are subject to a level of confusion. We have to rotate stock, | :07:12. | :07:15. | |
so this is about stock rotation. Best before is to protect quality. | :07:16. | :07:19. | |
Use by Easter protector safety of the product. `` use by is to | :07:20. | :07:27. | |
protect. At this campaign, love food, hate waste, it is that | :07:28. | :07:31. | |
packaging should not confuse consumers but offer advice on how to | :07:32. | :07:36. | |
food better. Some of the work we have done is look at improved | :07:37. | :07:39. | |
storage advice on the pack. We store food by habit, we take our apples | :07:40. | :07:45. | |
out of the bag and put it in the fruit bowl, which is the worst thing | :07:46. | :07:49. | |
you can do. Having some information saying to keep it in the fridge in | :07:50. | :07:53. | |
its original packaging, it will mean you get two more weeks to use the | :07:54. | :07:58. | |
food. In the bid to avoid waste, Tara says planning is the name of | :07:59. | :08:04. | |
the game. On Monday, the children had sweet potato. She decides what | :08:05. | :08:07. | |
she will cook each week and adapt the menu depending on what will go | :08:08. | :08:12. | |
out of date. With a joint of ham nearing its best before date, it | :08:13. | :08:14. | |
looks like a healthy dinner for this boy tonight. | :08:15. | :08:22. | |
Very organised. Envy. A week from today, Indonesia goes to | :08:23. | :08:27. | |
the polls. A resource boom has begun to transform the country, making it | :08:28. | :08:30. | |
one of the next tier of developing economies expected to emerge onto | :08:31. | :08:33. | |
the world stage much as China and India did 20 years ago. It's got the | :08:34. | :08:36. | |
largest economy in southeast Asia, which grew at 5.8% in 2013, that | :08:37. | :08:40. | |
sounds a lot, but apparently it's not enough.Our Chief Business | :08:41. | :08:42. | |
Correspondent Linda Yueh is in Jakarta. | :08:43. | :08:48. | |
Nice to see you. Tell us more about the week ahead and the challenges | :08:49. | :08:56. | |
facing Indonesia. Behind me in Jakarta you can see the | :08:57. | :09:01. | |
business district, the mass of traffic jams, a big challenge for | :09:02. | :09:06. | |
the country. We spoke a moment ago about a 5.8% growth rate last year, | :09:07. | :09:11. | |
the slowest since 2009. You recall last year, Indonesia was considered | :09:12. | :09:16. | |
one of the fragile five economies at risk a potential crisis once the Fed | :09:17. | :09:22. | |
cuts back on cheap money. What that points to is that this is an economy | :09:23. | :09:27. | |
without the infrastructure or the support to all our bit to grow and | :09:28. | :09:32. | |
sustain a large middle class, which is the challenge for the | :09:33. | :09:34. | |
presidential contenders in the week ahead. Whoever wins this election, | :09:35. | :09:40. | |
when they go to the polls next week, they will have to do quite a lot to | :09:41. | :09:46. | |
transform an economy which has institutional problems, has relied | :09:47. | :09:49. | |
on a resource burden, investors have been waiting on the sidelines | :09:50. | :09:52. | |
because they see this fragility. On the other hand, Indonesia has the | :09:53. | :09:58. | |
fourth largest population in the world, smaller than the United | :09:59. | :10:01. | |
States, giving it a massive potential. To realise that, it will | :10:02. | :10:05. | |
take a transformation of the way that the government runs the country | :10:06. | :10:09. | |
and that is why there is a great deal at stake in these presidential | :10:10. | :10:13. | |
elections coming up next week. Back to you in London. | :10:14. | :10:20. | |
Thanks very much. She is with us throughout the morning from there. | :10:21. | :10:24. | |
That is all from World Business Report. See you soon. Thank you | :10:25. | :10:39. | |
Sally. We will look at the papers in a moment. Now though, Councils are | :10:40. | :10:43. | |
warning that financial pressures and growing demand are combining to make | :10:44. | :10:45. | |
social care services unsustainable. Here's our social affairs | :10:46. | :10:47. | |
correspondent, Alison | :10:48. | :10:48. |