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tv   Business Today  BBC News  May 8, 2024 2:30am-2:46am BST

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dec says it has billions of dollars more than it needs to cover what customers are lost during its collapse. —— ftx. we go to our business reporter. what can you tell us?- go to our business reporter. what can you tell us? when ftx colla sed what can you tell us? when ftx collapsed in _ what can you tell us? when ftx collapsed in november- what can you tell us? when ftx collapsed in november 2022 - collapsed in november 2022 around 2 million customers were left with no access to their funding and also they continue to lose interest on the money they had on the exchange because it stopped trading. now, ftx has filed for bankruptcy and its founder has been convicted of fraud but during those bankruptcy proceedings it has been found that the crypto exchange actually has more access than previously thought. it is in the process of selling off a
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lot of his access but part of the reason a lot of its axis are in crypto currency and it is valued very highly at the moment and in recent months it has really gone up. —— assets. experts are saying that it is rare in bankruptcy cases for customers to get all of their money back. in this case they might get more than 100% of their money back but that will still be a long way off because of these bankruptcy proceedings will take some time.— will take some time. thank you very much _ will take some time. thank you very much forgetting _ will take some time. thank you very much forgetting up - will take some time. thank you very much forgetting up to - very much forgetting up to speed with those developments. staying with the us. the chinese owner of tiktok has said it will sue the us government over a new law which requires it to sell the video—sharing platform or be banned in america. the company has called the legislation an "extraordinary intrusion on free speech rights". from new york, michelle fleury has more. tiktok is hugely
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popular in america. 170 million people use the platform to communicate. lawmakers aren't so keen. congress and the biden administration believe the app and its chinese owners bytedance could be a danger to national security. the argument goes that beijing could commandeer it to surveil and manipulate americans. so they've given the company until the day before the next us president takes office — on the 20th of january — to sell or face a ban here in the united states. tiktok, well, it's fighting back, challenging the constitutionality of the new law, arguing in its legalfiling, for the first time in history, congress has enacted a law that subjects a single named speech platform to a permanent nationwide ban. the company also says that it's not possible legally, technically or commercially to divest within that time frame. part of the challenge is that
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with a billion users worldwide, a lot of its content is actually available across borders, making it all harder to unpick. the usjustice department declined to comment, but here's what white house press secretary karinejean—pierre had to say when asked about why president biden continues to use tiktok for his political campaign. so as it relates to the campaign, and obviously other congressional members, they have to speak to themselves, the campaign has to speak to it, but we've been very clear — what this law is is not a ban, it is a divestment. tiktok�*s ceo shou zi chew, who appeared with his wife, vivian kao, at the met gala last night, is hoping tiktok�*s other recent first amendment victories in the us, like blocking the state of montana's bid to ban it, will help it prevail again. outside of the courts, tiktok�*s best hope in a general election year is for donald trump to retake the white house, given that one of mr trump's big backers and a major republican donor, jeff yass, is also a tiktok investor. tiktok will face challenges
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when proving its case in court. that's according to kirk mcgill, a lawyer at hall estill. one of the primary difficulties that tiktok is going to have is that the principal first amendment issue is the issue of its users' first amendment rights, as opposed to the company's first amendment rights. and because the statute doesn't seek to ban tiktok, it seeks to require its divestment, that won't ultimately affect the end—users, and they're the ones whose rights are most at issue. and for when it comes to the us government, they need to prove in court that there are national security issues — is that the case? that's precisely right. the difficulty is, the united states government has to balance showing its hand in court in order to beat tiktok but revealing, potentially, its intelligence sources and methods abroad, which may have greater value, and that's always been the difficulty for the government when it comes to national security cases, is the balance between freedom and security and between disclosing its evidence and hiding and concealing that evidence in order to protect its intelligence activities. so, in essence, the two parties involved — tiktok and the us government —
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are almost arguing to prove two different things? that's right. it's the classic clash between freedom and security that's existed, arguably, since the magna carta, and it's on show again today with tiktok. the times and the technology may have changed, but the issues are quite the same. yes, so give us a sense, then, of what's at stake the us has revoked some licences that allow american companies to ship goods, like chips, to huawei. last month, the chinese telecom giant launched its first ai—enabled laptop, powered by an intel processor. us officials see huawei as a national security threat and have been trying to hobble its ability to develop the latest technology. apple has unveiled a new artificial intelligence chip in its latest ipad pro. this comes despite sales for the iphone and the ipad falling. ryan reith from market intelligence firm idc said the development was a significant one. this was labelled to everyone as an ipad event and it quickly turned into a chipset event. so, apple announced
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some excellent ipads that are going to do great in our opinion, but i think the big storyline here is really the m4 chip announcement, so this is, for those that don't know, this is really sort of apple's first silicon announcement that they have done that brings them into the step into ai, and there's a lot of things that are going to be following in the coming months, including their development conference in about a month from now, that will play into a bigger picture around this. so, the ipads are great, the discounting on the old ipads are excellent, the air announcements, again, tremendous upgrades from the previous versions. the ipad pros with the ma, leading with that, the brand—new chipset, as opposed to the mac, i think that's the biggest storyline, in my opinion. disney's streaming business has reported its first profit since its launch in 2019. the disney+ and hulu streaming unit saw an operating profit of $47 million in the first three months of the year. but shares in the entertainment giant fell after it said
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the tv and park businesses face challenges in the months ahead. to finland, where one city is on an ambitious path to become carbon neutral. lahti was once a centre of industry and polluted. but it has gone through something of a transformation, as adrienne murray reports. warming up for another big game. it's notjust goals that the pelicans want to score. lahti's ice hockey team is trying to go green. this arena uses renewable energy and the team travel to domestic matches on a biodiesel fuelled bus. we are going to zero and we like to go below it, even to negative. the biggest thing why we start this project, we like to show the way how to do things better. their efforts have helped win sponsors and also influence the fans. when we start accounting, almost everybody came
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by their own car. nowadays, they have changed their habits. lahti was once a polluted, industrial city. but over the years, it's transformed itself and is forging a greenerfuture. getting rid of coal was a major step. this plant supplies citywide electricity and heating, using woodchips and residual waste from forestry and households. if we look back to early 2000, our total emissions were overi million tonnes of co2 annually. by 2020, that was reduced to close to 100,000 tonnes, so a huge reduction — over a million tonnes — within 20 years. across the city, there's cleaner public transport, like electric buses, bike sharing and lots of cycle paths. reuse and recycling rates are also high, and a big part of the work is engaging the local community. though takeup has been mixed, apps have also been tested out to encourage users
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to live more sustainably. everyone can choose suitable challenges for their life — for example, leaving a carfor a day at home — or then you can choose, for example, one month not buying new clothes. heating, transport and food are among the biggest areas to tackle. however, some habits are hard to change, like steering drivers away from petrol cars. there's still plenty more to do, of course, but a greener future is one goal that lots of people can get behind. adrienne murray, bbc news, lahti. according to the official website, fingered plans to become neutral by 2025 with the city becoming neutral 90s longer in 2025. before we go, shares of reddit have jumped by around 15% in extended trading, after it
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reported earnings as a public company for the first time. the platform said it saw a 48 percent increase in revenue in the first three months of the year. reddit listed in the united states in march. and that's it for this edition of business today. i will be back at the same time tomorrow. in the meantime, bye for now.
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hello and welcome to sportsday. i'm jane dougall. they were the underdogs, but borussia dortmund are through to the champions league final after beating paris saint—germain in their own back yard. and who will they meet? could it be an all—german final? bayern munich play real madrid on wednesday in the second leg of the other semifinal. plus, we hearfrom an emotional olympic marathon champion, eliod kipchoge, who says he feared for the safety of his family after trolls wrongly blamed him for the death of a rival. welcome to the programme. well, despite the home side hitting the post six times across both legs of the semifinal, paris saint—germain
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failed to score and are out of the champions league. it's borussia dortmund who will play in the final at wembley on the 1st ofjune after a breathtaking second leg in france. dortmund went into the match i—0 and scored on the night in the french capital to win 2—0 on aggregate and reach their first champions league final since 2013. dortmund got the crucial goal when mats hummels was left unmarked five yards out. he headed in from a corner, promping these celebrations. it was a desperately frustrating night for ps6, though, who hit the frame of dortmund's goal four times on the night and twice in the first leg. psg have never been european champions, losing to bayern munich in the 2020 final. dortmund, though, have won the trophy once before, beating juventus in 1997. for psg, it's heartbreak once again, as our reporter connor mcnamara explains.

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