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BBCNEWS World Business Report July 6, 2024

let s get down to business. america s supreme court is set to hear two cases back to back that could reshape the internet. the first is gonzalez vs google. the second case being heard on wednesday is twitter vs taamneh. both deal with whether tech platforms should have legal immunity for what their users choose to post. for more, here s our north america business correspondent michelle fleury. should tech companies be held liable for harmful content promoted by their algorithms? that is the question being put before america s top court. eight years ago, gonzalez, 23 year old exchange student was killed by ices gunmen in paris. the family in seeking justice for her death is targeting google s video platform, youtube, alleging that by distributing terrorist training videos on its side, the tech giant acted as a recruiting platform for isis, in violation of us laws about helping terrorists. at the centre of this landmark as is a federal court forged in the earliest days of ....

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BBCNEWS World Business Report July 7, 2024

more now on the day ahead in the uk, and we could know as early as this afternoon who the next leader of the conservative party is and therefore our prime minister. as you ve been hearing, borisjohnson has pulled out of the contest, saying the time isn t right and would not lead to much needed party unity. this leaves two contenders former chancellor rishi sunak and the leader of the house of commons, penny mordaunt, with mr sunak currently the front runner. by 2pm this afternoon if penny mordaunt hasn t got 100 backers or more, then rishi sunak is in post. if both candidates are still in play, then mps vote to state their preference. let s take a look at how the markets are trading today during asian time. we have the dollar versus again, i was hoping to show you the pound but the detail is not on that particular screen, when i looked at it months ago the pound was buying just over $1 13 cents, fairly steady versus the dollar and up slightly versus euro. joining me n ....

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BBCNEWS World Business Report July 7, 2024

so let s get started, and we begin with the latest meeting of the world s major oil producing nations - 0pec+. world leaders, including president biden and the uk prime minister, are hoping the group will agree to pump more oil and ease energy prices that is fuelling inflation. in a bid to increase pressure, joe biden is headed to saudi arabia next month for meetings. but so far the signs are the oil producers group, which includes russia, is unwilling to budge. opec nations produce around 30% of the world s crude oil, about 28 million barrels a day. let s talk this through with spencer welch oil analyst with s&p global. good morning to you. in the last month they had agreed to increase production a teeny tiny bit. but what is their argument for not increasing it more now? more now? good morning, actually more now? good morning, actually they more now? good morning, actually they have - more now? good morning, actually they have been - actually they have been inc ....

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BBCNEWS World Business Report July 7, 2024

let s get down to business. we start with bp, as it s expected to reveal it made record profits in the second quarter. the rising price of oil has given the energy giant a significant boost. in fact bp chief executive, bernard looney, described the energy market last year as a cash machine. so let s take a look at its previous quarter, when bp made an operating profit of $8.2 billion. this, despite off loading its nearly 20% stake in russian controlled oil company rosneft. it also instigated a huge share buy back programme. last week, its rival shell reported second quarter profits of $11.5 billion, prompting a backlash in the uk with one trade union leader describing the soaring profits as an insult to households who are struggling with rising energy bills. let s talk this through, with andrew critchlow from s&p global commodity insights. hello to you, andrew. first of all, what are the numbers going to be like from bp? is it record breaking? i to be like from bp? is it re ....

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BBCNEWS World Business Report July 7, 2024

let s start here in the uk, where prime minister borisjohnson has won the backing of a majority of tory mps in a confidence vote despite a significant revolt against his leadership. mrjohnson won 59% of the vote, meaning he is now immune from a conservative leadership challenge for a year. in total, 211 tory mps voted they had confidence in the prime minister s leadership, while11i8 voted against him. mrjohnson described his confidence vote win as decisive . i think this is a very good result for politics in the country. i think it is a convincing result and a decisive result, and what it means is that as a government, we can move on and focus on the stuff that really matters to people. joining me now is giles coghlan, who s the chief currency analyst at hycm. has it caused concern? perhaps surprisingly. has it caused concern? perhaps surprisingly. it has it caused concern? perhaps surprisingly, it hasn t. - has it caused concern? perhaps surprisingly, it hasn t. t ....

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