31/03/2016 World Business Report


31/03/2016

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Now for the latest financial news and World Business Report.

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Europe holds emergency talks on making its airports safer -

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amid growing concern from the travel business.

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Plus - fighting for the 35 hour week.

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France braced for more protests over reforms to the country's labour laws

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Also in the programme China's second largest

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steel producer says its upping production this year even though

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We start with the travel industry and growing concerns

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Later today officials from all over the region will hold

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an emergency meeting in Amsterdam to assess whether security can be

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It follows the Brussels terror attacks last week, as well

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as the hijacking of an Egyptian airliner on TuesdayIt's a major task

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as the hijacking of an Egyptian airliner on Tuesday. It's a major

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- the European Commission's Aviation Security committee will be

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It's thought talks will focus on the departure halls - the areas

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people enter before going through security checks to the "air side."

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That was where two bombs were set off at Brussels Zaventem airport

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last week Some security analysts have asked whether Europe needs to

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follow the lead of countries like Russia and Turkey - where passengers

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are often screened before they even enter the airport building.

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Some in the travel industry though are concerned this could have

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a huge impact in terms of delays at Europe's busiest airports.

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And they question how effective it would be anyway.

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He's what travel journalist Simon Calder had to say.

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ACI Europe which represents the airports said do not do this. You

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will just move the Roblin elsewhere. If the airports want to avoid having

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rules imposed by politicians, then they are going to have to do

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something smarter. Alan Bowen is from AGB Associates -

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which provides legal advice to Good morning. A lot of discussion

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has been in the public arena since the events in Brussels and then what

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happened this week with the landing of the aircraft in Cyprus. I think

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the hijacking this week has caused a great deal of concern. How did the

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passenger get on-board with something that looks like a bomb and

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how did he get access to the cockpit. What is likely to be the

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outcome of these discussions? I think the real issue is the issue of

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intelligence. We will see more sharing of intelligence. They are

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proposals of directives for airlines to pass on information. We are

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hopeful that will get past in the next couple of months. The big issue

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is whether we make changes in the airports themselves. The explosions

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in Brussels to place landside, with people who have note ticket. That

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would mean putting in cheques at the front door and that could be an

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issue and many apples have combined transport hubs. Heathrow have lines

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that go directly from the platform to the terminal. They would have to

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be major structural changes to ensure 100% security. Is it likely

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to be a Europewide direct on how airports operate all will it be up

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to national governments? I do not believe it is an issue that should

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be imposed from Brussels or Amsterdam. However a look at what is

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best practice and how those who are not reaching the standards can

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perhaps be assisted. What do you think is the best thing to do was

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make is it practical to screen everyone as they walked through the

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door? At the moment the answer is no. In Tel Aviv they do that now but

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you have to be there at least three hours before departure is and the

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interrogation can take ten minutes to an hour per person. Heathrow had

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2500 people travelling in a couple of days, -- 25,000. You cannot do

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that. You need to find a balance between security and convenience.

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Just to say, when we get any news out of the meeting in Amsterdam, we

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will keep you across that. We're also in France

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which is braced for more strikes and protests today over proposed reforms

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to the country's labour laws. The Government wants an end to

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the rigid 35 hour working week - the shortest in any European

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country - which it says is helping These were the scenes last week

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when the Cabinet agreed to the reforms, which now have to go

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before parliament. Bosses would be able to ask staff to

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work 48 hours in a week, or even 60 in special circumstances

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- but only if they still average 35 Today's action looks set to cause

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disruption to public services, public transport and even TV

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services around the country. Here's our correspondent in

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Paris Hugh Schofield. Today is the real big test for the

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French Labour law. The unions have promised a big turnout on the street

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and if they can bring the numbers out, they still have a chance to put

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pressure on the government to change the text yet again. That's not

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forget, the government has already substantially watered down this

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deal. The aim of the reform to the Labour code was to make it easier,

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less scary for companies to take on staff and at the beginning, business

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was very much in favour but since then, the government has removed a

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lot of the key provisions which has angered business without

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particularly satisfying the left and the union who want the whole thing

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scrapped. When you reminders are coming in as to how desperate front

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needs reform. Unemployment figures show there are 3.6 million people -

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a record - out of work. Other countries have the same problems.

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Other countries are bringing down unemployment. Not France.

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Let's go to Asia now where there is news of plunging profits

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and falling prices in China's huge steel industry.

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Ali Moore is following it for us in our Singapore office.

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Ali, this is very relevant in terms of what's happening to

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China is constantly accused of causing disruption worldwide. It is

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very relevant and very much the backdrop of what is happening in UK.

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Chill announcements today - -- two announcements. They are finding it

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very tough. At the same time, they have been forecasting total steel

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production by 20%, even though prices are going to stay low. China

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is pumping up rather even though they are not getting the return and

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the UK is feeling that with Tata Steel's decision. This is the group

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Chief executive talking about how conditions have changed. In the last

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few years, we had significant oil capacity out of China which has

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flooded the market so the dynamics of the steel industry globally has

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changed significantly compared to the time of acquisition. The Chinese

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government is aiming to shut around 150 million tons of capacity but

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right now, this is a very crowded market. Too much supply and to few

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buyers. Let's quickly show you financial markets... We come to the

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end of the first quarter of 2016. What a three months it has been.

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Japan is up just slightly. We have about 20 minutes trade to go but

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having said that the clocks changed so I could be wrong, apologies for

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those watching in Japan. The yen is still pretty strong. Good to see

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Japan keeping its head above water. All these markets have been buoyed

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still by the comments we had from Janet Yellen earlier this week. We

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will discuss that in a bit more detail in a few moments.

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