The trade implications. Scotlands only Oil Refinery is to close with a cost of 400 jobs the Unite Union calls it an act of industrial vandalism. And Credit Crunch why are so many Women Led bUsinesses cancelling Expansion Plans because they are unable to access finance . Well speak to one big bank trying to address that. Live from london, this is bUsiness today. Im mark lobel. The Aircraft Maker Boeing is awaiting news from its workforce on whether its accepted a four Year Pay Deal which could lead to a walkout of up to 33,000 workers. The deal 25 over four years has been backed by the workers� iam union, but many employees are not happy with the terms. A result� s expected very shortly and could lead to Strike Action in the coming hours. That would affect production of the companys 737 and 737 max aircraft. Heres our Usiness'>North America BUsiness correspondent ritika gupta. Breaking news on the subject. Boeing workers have voted to strike after rejecting a Pay Offer backed by their own union. The international Commercial Aircraft has association of machinists and recove the international union. The international association of machinists and aerospace workers. As we said, aerospace workers. As we said, the deal, a 25 Pay Rise fell the deal, a 25 Pay Rise fell short of the original target of short of the original target of 40 with the Pay Offer 40 with the Pay Offer affecting 33,000 workers. Affecting 33,000 workers. Strike or close assembly Plants Strike or close Assembly Plants for the 737 max, 737 max and for the 737 max, 737 max and triple seven further hampering triple seven further hampering the Companys Turnaround the compa ny� s turnaround efforts. Recovered the Companys Turnaround the compa ny� s turnaround efforts. Lets cross live now lets cross live now to russ mould, investment to russ mould, Investment Director at aj bell. Director at aj bell. The vote has come in and they the vote has come in and they have voted to strike. find have voted to strike. find the vote has come in and they the vote has come in and they have voted to strike. Have voted to strike. And they seem to have have voted to strike. Have voted to strike. And they seem to have have voted to strike. And they seem to have voted have voted to strike. And they seem to have voted seem to have voted overwhelmingly to do so as seem to have voted overwhelmingly to do so as well. I guess the union could well. I guess the union could argue it has a strong position argue it has a strong position at the moment on employment in at the moment on employment in the us, though its rising it the us, though its rising it is still low and demand for is still low and demand for Commercial Aircraft has Commercial Aircraft has recovered strongly after the Pandemic And Boeing still has a huge backlog of more than 5000 aircraft, with over 500 billion, to try to deliver and very and a very unhappy customers are waiting for those planes so these people have a strong position and have decided to use it. Strong position and have decided to use it. 9696 backing it. How decided to use it. 9696 backing it how will decided to use it. 9696 backing it. How will it decided to use it. 9696 backing it. How will it affect it. How will it affect production . It. How will it affect production . It. How will it affect roduction . , production . Clearly it will be a massive production . Clearly it will be a massive Complication Production . Clearly it will be a massive complication with | production . Clearly it will be i a massive complication with the company already having to work hard to getjust 40 aircraft per month out of the door which is well below what it has hoped to achieve and again, a huge backlog is there with a lot of airlines unhappy they have not received their aircraft. Ryanair is one of them. The company is facing all sorts of complications with safety lawsuits, lawsuits from shareholders, potentially unhappy customers and now the potential setback for further volume deliveries at a time when it is already losing money and you is a huge amount of debt. And you is a huge amount of debt. , debt. Kelly ortberg the incoming debt. Kelly ortberg the incoming ceo debt. Kelly ortberg the incoming ceo recently| debt. Kelly ortberg the incoming ceo recently promised to reset relations, taking office last month, with the workers. How does it look for him . ,. ,. ,. , him . He is clearly going to be extremely him . He is clearly going to be extremely disappointed. Him . He is clearly going to be extremely disappointed. He i him . He is clearly going to be l extremely disappointed. He has always been begging the unions to accept the Pay Rise. The promise of Commercial Aircraft in washington. Now he will probably have to go back to the Negotiating Table and offer more money which increases boeings costs when it hasnt made a profit since 2019 and analyst say it isnt expected until 2025. Iii analyst say it isnt expected until 2025. Until 2025. If listed many problems until 2025. If listed many problems they until 2025. If listed many problems they faced until 2025. If listed many problems they faced and | until2025. If listed many i problems they faced and we until2025. If listed many problems they faced and we are talking almost every week or every couple of weeks about them on this programme. How does this affect people . And they book flights they booked through an airline so our people now starting to check which aircraft the airline is Using . Which aircraft the airline is Usin . � ,. , which aircraft the airline is Usin. . � ,. , which aircraft the airline is Usinu . � ,. ,. , which aircraft the airline is Usinu . � ,. ,. ,. Using . Its a good question and i confess Using . Its a good question and i confess i Using . Its a good question and i confess i didnt Using . Its a good question and i confess i didnt when Using . Its a good question and i confess i didnt when i Using . Its a good question and i confess i didnt when i flew i i confess i didnt when i flew over the summer but you could understand why they would do so, especially after the latest problem with the alaskan Airlines Flight when the door blew Off Injanuary Airlines Flight when the door blew off in january so Airlines Flight when the door blew Off Injanuary so you would understand it. You are hearing about airlines like ryanair saying we want to get these aircraft and we havent got them and are having to potentially cancel flights and as a result the prices may be higher than previously because of their lack of capacity so some customers will fill the impact perhaps in a less direct way. Impact perhaps in a less direct wa. , ~ impact perhaps in a less direct wa. , ~ y impact perhaps in a less direct wa. , ~ ,. Impact perhaps in a less direct wa. ,. , way. Thank you very much for oininu way. Thank you very much for joining us. Way. Thank you very much for joining us, russ, way. Thank you very much for joining us, russ, and way. Thank you very much forj joining us, russ, and reacting to that breaking news. Just to remind our viewers, Boeing Workers have voted to strike after rejecting a Pay Offer backed by their own union, the behaviour of 25 over four years falling short of their target of 40 the Pay Offer. That will affect Boeings Ability to get out 737 max and 777 plains. Two other news now. Trump but this is a classical bilateral look with the president at security and it will be framed in the sense of the green transition other countries would do with that. Would meet with. You have the Inflation Reduction Act in the Inflation Reduction Act in the us and the green transition is a big Issue Force Keir starmer so i think it is the lines of economic discussion you will see with bilateral trade particularly with an upcoming election in the us is probably off the table with free Trade Agreement discussions. Free Trade Agreement discussions. ,. , discussions. Turning to trade in a second discussions. Turning to trade in a second but discussions. Turning to trade in a second but on discussions. Turning to trade in a second but on the discussions. Turning to trade in a second but on The Point| in a second but on The Point about the green transition and repairing foreign relations, they are where things are warm and relations are strong. Presumably, china remains a point of contention and how close country should be would not be mentioned, or will it, Behind Closed Doors . Potentially Behind Closed Doors but i think actually Keir Starmer has not made clear what his approach to china will be. There is always an Expectation And Hope in washington, whether you are President Biden or President Trump to have uk take a stronger and pro us line on trying to workjobs that china and Keir Starmer has not made his use clear. We know the Chancellor Rachel reeves has that she welcomes China Trade so looking at where areas of mutual cooperation and economic Security Light but i think the us and uk dont always see i do i have an absolutely unintelligible approach when it comes to that. Unintelligible approach when it comes to that. Looking forward to uk us comes to that. Looking forward to uk us trade comes to that. Looking forward to uk us Trade Relationship to uk us Trade Relationship from 2025 onward, would you expect to see very big differences depending on which of those candidates, Ella Harris or former President Trump, Go On to win and become president . President . President Kamala Harris would president . President Kamala Harris would seek president . President Kamala Harris would seek continuity | harris would seek continuity from where we are, though harris would seek continuity from where we are, thouthoe biden wasnt a big fan of classical Trade Agreements but President Trump would be committed to exploring a Trade Agreement with the uk, potentially in return for not applying this tariff across the Board Increase of tariffs across the board to the uk and it may actually leave Keir Starmer in a slightly invidious position of having to choose between a free Trade Deal or having tariffs applied to its import from the us. We are Exoecting Import from the us. We are exoecting to import from the us. We are expecting to see import from the us. We are expecting to see press expecting to see Press Conferences and hear from expecting to see Press Conferences and hearfrom Keir Starmer about his visit. Did you think you will use it as an opportunity to show he is trying to grow the Uk Economy with global allies because so far, he has struck more of a sober tone here in the uk about tax rises ahead of the october budget. I tax rises ahead of the october budaet. ~ , tax rises ahead of the october budaet. ~. Budget. I think it is classic forei. N budget. I think it is classic foreign policy budget. I think it is classic foreign policy tending budget. I think it is classic foreign policy tending to l budget. I think it is classicl foreign policy tending to be budget. I think it is classic. Foreign policy tending to be a slight distraction from some of the economic storms at home and obviously this is an opportunity to highlight the uks reset and Reconnecting Britain as labour put it in its election before the manifesto before the election. This is the second visit to washington from Keir Starmer to Seejoe Biden as president so it is a hopeful deflection from economic storms bring it home. Allie through, allie, thank you so much for joining us here in the programme. Scotlands only Oil Refinery will close next year with 400 jobs set to be cut. Petroineos, the owners of the Grangemouth Plant on the firth of forth, confirmed the company would transform the site into a terminal for importing rather than refining. The Unite Union called the closure an act of industrial vandalism. 0ur Scotland Editor James Cook reports. Grangemouth has been refining the fuels for a Century Grangemouth has been Refining Fuels for a century but its now losing thousands of pounds a day, struggling with declining demand for Petrol And Diesel as the world begins to shift to renewable energy. And so, the site is going to import petrol, Diesel And Aviation fuel instead of making them, and that will mean at least 400 job losses. Well, theres a realfear and real anger amongst the workforce and amongst the community here. This is the first test of a just transition in this country and its failed miserably. Its been failed by the company, and the people have been failed by the politicians. This could be economic and industrial vandalism on the biggest Scale Weve seen and this town could be decimated if we do not do something about it. Ministers here in edinburgh and in london say theyre investing £100 million in the local economy and exploring longer term options for the site. There will be investment in the sites long term future. The scottish government and the united Kingdom Government have both jointly funded the Project Willow Study that has identified a shortlist of credible options to begin the building of a new long Term Industry at the refinery site, including low Carbon Hydrogen clean e fuels and sustainable aviation fuel. But even if Project Willow works out, those jobs are years away cold comfort for staff being laid off in the coming months. Well, i dont accept for a second that were losing any of those skilled workers. Yes, this is really disappointing for them, also because theyve had the not knowing, the uncertainty for such a long time with this refinery its been over ten years of roller coaster. I think what were doing is making sure that those Skills Transfer into some of the green energyjobs of The Future. In public, bosses and workers here are divided about the necessity of closing this refinery but in private, they are united in accUsing politicians of failing to deliver a just transition. James cook, bbc news, grangemouth. New figures show nearly one in five of women owned or led bUsiness have either delayed or cancelled bUsiness plans due to not being able to access finance thats according to a new Yougov Poll commissioned by banking giant hsbc, which says it reflects a longer term trend. So, what are the barriers to women owned or Women Led bUsinesses and how can they be broken down . Lets cross live now to head of Global Trade Solutions at hsbc uk, stephanie betant. Good to have you on the programme. Whats Holding Women back . What surprised you in the data gathered about the barriers women face when attempting to access finance for their bUsinesses . For their bUsinesses . Good morning for their bUsinesses . Good morning. Pleasure for their bUsinesses . Good morning. Pleasure to for their bUsinesses . Good morning. Pleasure to be i for their bUsinesses . Good i morning. Pleasure to be here. One of the elements we found in the research is isolation. What we know is that one in five women dont have anyone to talk to or to turn to when they are faced with the challenge, so building networks, communities is a key way to actually unlock the isolation. The isolation. But they dont aet the isolation. But they dont Get Access the isolation. But they dont Get Access to the isolation. But they dont Get Access to the the isolation. But they dont Get Access to the process . I the isolation. But they dont i Get Access to the process . Or is it Something Else . Its Get Access to the process . Or is it Something Else . Is it Something Else . Its a combination is it Something Else . Its a combination of is it Something Else . Its a combination of things. I is it Something Else . Its a. Combination of things. What is it Something Else . Its a I Combination of things. What we see is that, for instance, for 13 inaudible Lending Journey only 8 of women tried to access finance. So its both in the process but also, the lack of access. 18 of women say its the access to lending, to actual credit, but is slowing down the Growth Opportunities in their bUsiness. So down the Growth Opportunities in their bUsiness. In their bUsiness. So its artl in their bUsiness. So its partly a in their bUsiness. So its partly a reticence i in their bUsiness. So its partly a reticence but i in their bUsiness. So its l partly a reticence but lets talk numbers. How do you value the Credit Gap for those bUsinesses are missing out on . Globally, the Credit Gap for Women Led bUsinesses is about 17 trillion. Absolutely enormous. In the uk there is about 27 20 of bUsinesses, Women Led bUsinesses, £250 billion opportunity for the Uk Economy. So hsbc is launching a Usiness-growth'>Women BUsiness Growth initiative that aims to support access to credit for these Women Led bUsinesses with a number of opportunities linked to it. � , number of opportunities linked toit. ,. , number of opportunities linked toit. ,. ,y. ,. , to it. Because nearly half of female bUsiness to it. Because nearly half of female bUsiness leaders i to it. Because nearly half of. Female bUsiness leaders plan to it. Because nearly half of female bUsiness leaders plan to expand their bUsinesses next year so what has worked in the past and what do you hope will move the dial in The Future . Theres a number of when we look at supporting women in The Future different bUsinesses have different needs but recently i met with a company and one of the things i found was access to international markets, access to new opportunities makes bUsinesses more robust and creates a faster pace of growth. Are supporting this bUsiness thats accessing new markets in asia, new markets in the Middle East and the us market to actually build new opportunities and build resilience for their bUsiness. Stephanie, thank you for joining us. Stephanie, thank you for joining us Around The World and across the uk, this is bbc news. A shop Workers Union has won a supreme Court Battle against tesco over so called Fire And Rehire plans put forward by the supermarket giant. The row erupted in 2021 after tesco proposed laying off staff at some Distribution Centres and rehiring them on lower pay. The Usdaw Union said it was delighted with the outcome. Heres david waddell. This case involved about 50 workers who work at two Group Midlands based Distribution Centres, one in daventry, seen here, and one in lichfield. In 2007, tesco planned to close other Distribution Centres and offered staff increased retained pay to relocate. In 2021, the company put forward an offer to take a Lump Sum in lieu of the enhanced pay or it would terminate the contracts only to rehire the same employees on a standard contract. They described that as a contractual mechanism open to employers. The shop Workers Union, known as usdaw, won an injunction to stop tesco carrying out its plans that the company prevailed on appeal. However, the Supreme Court reversed the decision, saying tescos right to stop employeess contracts would not be used to take away their enhanced pay. In an unanimous judgement, the supreme Court Panel that it was inconceivable that both Tesco And Union members intended for the supermarket to have the right to fire workers and rehire them on lower pay whenever it suited Usiness'>Tescos BUsiness purposes to do so. Tesco is by some margin the uks biggest Supermarket Chain the Market Share of about 28 . It is argued the affected workers had received increased pay where thousands of pounds each for more than a decade. Its accepted the ruling. A separate case involving workers at the Livingston Distribution Centre is going through the scottish court. The practice of Fire And Rehire picked up a string the Covid Pandemic on a number of big bUsinesses tried to dismiss workers and hire them back on less favourable terms. The department of Usiness-and-trade'>BUsiness And Trade has said new legislation on the question of Fire And Rehire will be brought in soon. David waddell, bbc news. One of the worlds leading cryptocurrency Exchanges Coinbase has warned that the us risks getting left behind the rest of the world if it doesnt bring in new laws to govern the technology. In recent years, the biden administration has cracked down on what it sees as illegal behaviour in the industry, but Donald Trump has promised to make the us the Crypto Capital of the world if he wins novembers election. My Colleague Tadhg Enright asked coinbases chief legal Officer Paul grewal how important the election was for cryptos global future. Mr trump is more explicitly adopted pro crypto options in his platform and the republican platform which would call for a sensible standard for cryptocurrency and stable rules that are quite encouraging. Vice president harris has had less of an opportunity to do so but she too has reached out to the Crypto Industry and sought to better understand the concerns of the industry in ways that we can break from the much more hostile and much more enforcement focused approach of of the current administration and i cannot underscore enough how important this is notjust for the us but for the world because, of course, not only is the us an important market for cryptocurrency its very important technology that has been developed here and its critically important that we do not lose sight that the world is just not waiting for the us to get its act together. All over the world we are seeing a lot of pressure on adopting standards. I think a lot of competitive pressures being put on the United States not to be left behind. And you can see more of that interview and find out about what the us election means for The Future of crypto on talking bUsiness this weekend, right here on bbc news. Now, its not Who Wants To Be A Millionaire but who wants to be an accountant . No, not a new Game Show Pitch rather, a plea from the industry because fewer College Students are willing to put in the time and money to become accountants thats according to icas, the global professional Membership Organisation for Chartered Accountants. They say its caUsing concern within the Finance Industry about the dwindling talent pipeline. Icas has refreshed its syllabus to keep pace with advances in technology, data and sustainability. But will it work . Lets find out if accounting can become a more attractive career to Generation Z with the Executive Director of learning at icas, gail boag. Morning. What makes becoming an accountant and morning. What makes becoming an accountant and extraordinary I Accountant and extraordinary and rewarding career . Accountant and extraordinary and rewarding career . Well, i think firstly and rewarding career . Well, i think firstly we and rewarding career . Well, i think firstly we need and rewarding career . Well, i think firstly we need to i think firstly we need to address the perception about what accounting is. Accounting in reality is a career that opens many doors and many opportunities. Its notjust opportunities. Its not just about opportunities. Its notjust about Crunching Numbers but also about interpreting data, applying rules and regulations, communicating with clients and stakeholders and providing strategic advice. As we look at accounting, we are the oldest global Profession Body for Chartered Accountants, and allow that scene as a allowing that c after their name, it is the qualification that allows people to Go On to start accessible bUsinesses, work for the government or cutting edge markets and bUsinesses all over the world. It is a gateway and a springboard but why are these numbers falling off a cliff . Why are people not lining up to be an accountant . The numbers of students be an accountant . The numbers of students studying of students studying accountancy at University Or Couege accountancy at University Or College is declining globally over the last ten years, particularly in the us where it started with a 16. 9 drop in accounting enrolments over the last period, despite there being a shortage of professional accountants. Professional Accou Nta nts. Tha nkfully professional accountants. Thankfully in the uk, the reduction has been slower but we are seeing fewer people gradually studying less accounting qualifications, choosing perhaps Data Scientists or cyber and other areas around stem subjects. Why . Areas around stem subects. Wh . � , areas around stem subects. Wh . � ,. , areas around stem subects. Wh . ,. , areas around stem subects. Why . Its a perception i think around a why . Its a perception i think around a number why . Its a perception i think around a number of why . Its a perception i think around a number of things. L around a number of things. Firstly, what is accounting . I mentioned there is a perception that it mentioned there is a Perception Thatitis mentioned there is a perception that it is focused on Bookkeeping Inaudible tasks other than looking at other opportunities and the doors it opens at the highest levels of bUsiness. ,. , opens at the highest levels of bUsiness. ,. , bUsiness. Ok. Gail, sorry to interruot. BUsiness. Ok. Gail, sorry to interrupt, what bUsiness. Ok. Gail, sorry to interrupt, what are bUsiness. Ok. Gail, sorry to interrupt, what are you i bUsiness. Ok. Gail, sorry to i interrupt, what are you going to do about increasing the numbers . In america, they are talking about changing the requirement needed to become an accountant. Are you retraining people in different skills to keep up with the Changing Market . ~. , � , keep up with the Changing Market . ~. � ,. , market . Whats the solution . First and foremost market . Whats the solution . First and foremost We Market . Whats the solution . First and foremost we need i market . Whats the solution . J first and foremost we need to make sure we dont compromise the quality but we are doing two things. Firstly, opening up new pathways in the pipeline to the profession. They also allow us to have access to the underrepresented groups and improve diversity in the profession, so working with schools, colleges, universities and apprenticeships which offer both benefits for students and professional firms without compromising 0k, gail, one final question before we run out of time and i really want to ask you this macro have you done an assessment over which parts of the industry may be taken over by ai, both to allay fears and direct people to parts that are safer . Yes. I think there is a perception that al think there is a perception that ai will take the accounting jobs in The Future and we need to address what accounting is. It will replace some of the more repetitive Bookkeeping Or Process driven tasks but in reality, what ai is going to do is amend the role of a Chartered Accountant because it is not inaudible. Irate because it is not inaudible. We are out of time, sorry to interrupt and thank you for joining us and thank you to our viewers. Hello. A cold friday morning. It is going to feel fresh when you step out of the front door. In fact, A Touch Of Frost possible almost anywhere in the uk, certainly a ground frost, and even an Air Frost in some areas. From the motion of the cloud, you get a sense of where the air has come from, All The Way from the arctic, and spread across many parts of western and even central europe. But High Pressure is now building across the uk, which means Light Winds and lots of sunshine from the word go, and of course clear skies through the early hours, just one or two showers maybe clipping eastern and western coasts. These are the City Centre temperatures three degrees in birmingham you go out of town, it will be three degrees lower than that, so Air Frost in some areas, and as low as 1 Or 2 in Northern England and scotland, away from City Centres. Lots of sunshine from the word go, cloud bubbling up a bit into the afternoon, scattered fairweather cumulus cloud, highs of 15 degrees, typically. Later in the day, it looks as though it will turn hazy in Northern Ireland and scotland, and that takes us into saturday. A Weather Front brushing the northwest of the uk, the possibility of some rain later on, but the further East And South you are, the brighter it will be, and really sunny on the channel coast, East Anglia and into lincolnshire, most of the north sea coast, as well. The winds will change direction by saturday they will come in from the south west. Through sunday, the milder air will have established itself across the uk, so temperatures once again start to nudge up to about 20 or so. Some of us will pay for it, though. In the southwesterlies, we often get Weather Fronts, so there will be a few showers around on sunday, but not everywhere, and certainly some sunny spells. 18 in belfast once again, 17 in aberdeen. To the east of the pennines, not far off 20 celsius. High pressure expected to build across the uk on monday, which means Light Winds, prolonged spells of sunshine, which are expected to last for the days ahead. Monday, tuesday, wednesday across the bulk of the uk, bright and fairly warm. Bye bye. Good morning, welcome to breakfast with Charlie Stayt and naga munchetty. 0ur headlines today. Sir Keir Starmer arrives in washington for talks with President Biden, after russian leader vladimir putin warns western leaders against escalating the war in ukraine. Donald trump rules out another president Ial Tv Debate against rival Junk Food adverts will be banned from pre watershed television from next year. Good morning. Return to sender . It might well cost you. Asos becomes the latest online retailer to charge fees for people who send their own despite. I will have more. The Sport Trial of the century is set to begin premier league champions Manchester City will finally start facing the 115 Charges for allegedly breaking financial rules at a hearing from monday. It is freezing out there across Northern England and southern scotland. I will have all the details later on. Its friday the 13th of september. Our main story. The Prime Minister is meeting President Biden in washington today, as allies of kyiv discuss giving Ukraine Permission to fire their missiles at targets inside russia. President putin has warned that doing so would be a serious
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