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BBCNEWS World July 5, 2024

like shareholdings and some other subsidiary companies, those assets are very readily accessible. the issue is that most of the company s assets are onshore in mainland china, they are land, properties the company had 1,200 projects at different stages of development as of 2022. but those assets are going to be tricky to access. in theory, hong kong and mainland have a 2021 arrangement for resolving insolvent companies like evergrande, but in practice what needs to happen is mainland courts will need to recognise this liquidation, but they also need co operation from local governments. i think it will be very tricky. this is just one stage in what is likely to be still quite prolonged process if the off shore creditors wish to get hold of ultimately money which comes from mainland property assets. let s talk to hong bo, professor of financial economics in the school of finance and management at london s soas university. the chinese government is unlikely to allow ever ....

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BBCNEWS World July 5, 2024

hello, i m sally bundock, here with your top business stories. let s start with oil, because crude prices have risen some 2% after saudi arabia and opec plus countries announced they would be cutting production to stabilise oil prices. saudi arabia said it would make cuts of one million barrels per day injuly, which is around 1% of global supplies. opec plus countries which account for around a0 % of the world s crude oil said they would cut production by some 1.4 million barrels per day from the start of next year. but not all members of the cartel were happy, with nigeria and angola both wanting to raise production rather than cut it. joining me now from vienna is cornelia meyer, who s the ceo of meyer resources. always lovely to see you. talk to us about these announcements. were you expecting these new cuts to come? i expecting these new cuts to come? . , , . ., come? i was expecting them and ou come? i was expecting them and you know. come? i was expecting them and ....

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BBCNEWS World July 6, 2024

fascinating snapshot of business. we will start with the economy, where it recorded a growth of 0.01%. they fell by 0.8%, underscoring the impact of the ongoing strikes on the cost of living crisis. hardly booming, but a far cry from the record breaking recession that the bank of england was protecting six months ago. on thursday, they announce a major rethink of its forecast, said the uk will avoid going into recession. the bank also raised its main interest rate again by .25%, but is why it sets. it is the 12th right in a row and puts the cost of borrowing at around a 15 year high. areal cost of borrowing at around a 15 year high. area i spoke to stephen nolan, a lecturer at liverpool in economics, and asked him why the uk is lagging behind the other common needs. . . , is lagging behind the other common needs. . ., , ., needs. there are a number of factors, needs. there are a number of factors. but needs. there are a number of factors, but when needs. there are a ....

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BBCNEWS BBC July 6, 2024

we ve been talking a lot about artificial intelligence today because dr geoffrey hinton, the man widely seen as the godfather of artificial intelligence has quit his job at google, warning of the dangers of ai. he s worried that al technology will flood the internet with misinformation. well, to look at some of the applications of ai in a bit more detail, courtney bembridge joins us from the newsroom. there are so many ways that al is set to change our lives. i wanted to have a look at some of the other applications. this piece in the guardian talking about noninvasive mind reading, turning our thoughts into text, it is designed to restore speech in those struggling to communicate after stroker motor neurone disease. sticking with medicine, this example, talking about chat gpt s bedside manner, saying it was better than many doctors, more empathetic and give better advice, although i m not sure many doctors would agree with that assessment. we got this from another te ....

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BBCNEWS World Business Report July 6, 2024

we begin with the airline industry and hope for staff at the collapsed airline flybe. ryanair and easyjet say they are happy to snap them up. easyjet says it has 250 vacancies for cabin crew, ryanair says it has vacancies in all categories, including pilots, engineers and ground staff. flybe went into administration on saturday putting 277 staff out of work. in about 25 minutes we ll be getting ryanair s third quarter results which are expected to be strong due to pent up travel demand. joining me now isjohn strickland, airline analyst atjls consulting. good morning, lovely to see you. let s start with flybe. the staff were concerned about their future but easyjet and ryanair say they are ready and waiting. ryanair say they are ready and waitinu. ~ ryanair say they are ready and waitin-. . , ryanair say they are ready and waitinu. ~ , ., ryanair say they are ready and waitinu. ~ u, ., ., ., waiting. we could not have a better contrast waiting. we could not have a be ....

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