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20260917 053000 UTC
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[00:00:01] Now on BBC News. The latest
[00:00:04] business news from across the globe.
[00:00:07] globe. Business Today. MUSIC
[00:00:16] MUSIC Rising Rising borrowing costs the US raises
[00:00:19] raises interest rates for the first first time in three years. President President Trump calls for a change
[00:00:22] change in direction. We should be be paying the lowest interest rate
[00:00:26] rate anywhere in the world because because we have the strongest credit.
[00:00:30] credit. The focus turns to the Bank Bank of England for its latest interest
[00:00:33] interest rate decision today, as
[00:00:36] as energy prices soar. A unique alliance
[00:00:39] alliance President Trump threatens threatens to cut trade with the EU
[00:00:42] EU if it pursues, making Canada its
[00:00:45] its first ever associate member.
[00:00:48] member. And smart specs we try out
[00:00:50] out Snap Inc's latest eyewear, promising promising to augment your reality
[00:00:54] reality and talk AI with its big
[00:00:57] big boss. Welcome. This is Business Business Today in London with me
[00:01:01] me Sally Bundock. So we start in in the US where the central bank
[00:01:04] bank has raised interest rates for
[00:01:06] for the first time in three years
[00:01:08] years as inflation worries Trump
[00:01:11] Trump pressure from the President. President. In a unanimous decision, decision, the Federal Reserve raised
[00:01:14] raised the cost of borrowing by a
[00:01:17] a quarter of 1% to a range of between
[00:01:21] between 3.75 and 4%. The decision decision comes as rate setters attempt
[00:01:24] attempt to curb price rises, driven
[00:01:27] driven largely by the soaring energy energy costs due to the Middle East
[00:01:31] East conflict. Commenting on the the move, fed chair Kevin Warsh said
[00:01:34] said that inflation had been too too high for too long, but it's fair
[00:01:38] fair to say President Trump does does not agree with the economic
[00:01:41] economic medicine. Taking to social social media, he posted that interest
[00:01:44] interest rates in the United States
[00:01:46] States should be 1% or less because
[00:01:49] because we are the best credit in
[00:01:51] in the world by far. Samira Hussain
[00:01:53] Hussain in New York has more. By
[00:01:55] By raising interest rates a quarter quarter of a percentage point in
[00:01:59] in saying that inflation is the big
[00:02:01] big reason why the Federal Reserve Reserve did what it was expected
[00:02:04] expected to do. Now, The Fed also also said that, look, the US economy
[00:02:08] economy is growing at a pretty healthy
[00:02:12] healthy rate, despite geopolitical geopolitical developments. Presumably
[00:02:15] Presumably referring to the war with
[00:02:17] with Iran, which is really driven driven up inflation. In a press conference,
[00:02:21] conference, Fed Chair Kevin Warsh
[00:02:23] Warsh admitted look, this rate hike hike won't reopen the Strait of Hormuz.
[00:02:27] Hormuz. A quarter point rate hike hike does not reopen the Strait of
[00:02:30] of Hormuz. And so I wonder how you you think the smaller rate hikes
[00:02:34] hikes will be effective when it can't can't necessarily address the energy
[00:02:37] energy supply side of inflationary inflationary pressures. We cannot
[00:02:41] cannot affect any individual price, price, whether it be oil prices,
[00:02:44] prices, whether it be foodstuffs foodstuffs at the grocery store.
[00:02:47] store. But what we can do and will
[00:02:49] will do is ensure that any change
[00:02:51] change in relative prices don't broaden broaden out. So how will all of this
[00:02:55] this make a difference? Well, the the Federal Reserve really made it
[00:02:57] it clear that this is all about the
[00:03:00] the American consumer and specifically specifically those that are less
[00:03:04] less well off, that they really want
[00:03:06] want to try and get the cost of living living under control. And this is
[00:03:10] is one way that they can do that.
[00:03:13] that. Samira Hussain there will. will. Joseph Brusuelas is principal
[00:03:16] principal and chief economist at
[00:03:18] at the US firm RSM he told me this
[00:03:21] this will not be the last rate rise.
[00:03:24] rise. No it's not. It'll be the first first of at least three rate hikes.
[00:03:28] hikes. I think we're going to get get another one either in October
[00:03:30] October or December. And then I think think another one in March. Look
[00:03:34] Look it's going to take a much more
[00:03:37] more heavier lift than I think many many policymakers, especially those
[00:03:40] those at the White House recognise recognise to put the United States
[00:03:43] States economy back on a credible
[00:03:46] credible path to 2% inflation. You You know, the things President Trump
[00:03:49] Trump was talking about 1% interest
[00:03:51] interest rates and cutting off trade, trade, that's just noise. That's
[00:03:55] That's not the signal. The signal signal was put forward by Kevin Warsh
[00:03:58] Warsh today. And US interest rates
[00:04:00] rates are rising. But increasing increasing interest rates in the
[00:04:04] the United States will not bring bring down prices at the pump, will
[00:04:07] will it? No. As a matter of fact,
[00:04:10] fact, prices at the pump, both for for petrol and diesel, are expected
[00:04:13] expected to rise not because of what's what's going on in the United States
[00:04:16] States or policy at the Federal Reserve, Reserve, but because what's going
[00:04:19] going on in Saudi Arabia, the disruption disruption of the east west pipeline,
[00:04:22] pipeline, the disruption of shipments shipments via the Red Sea. All of
[00:04:25] of those things are going to combine combine to send interest rates higher.
[00:04:28] higher. And that's why The Fed had had to get out in front of the inflation inflation that's working its way
[00:04:32] way through the pipeline, no pun pun intended. I mean, if President President Trump really wants to bring
[00:04:35] bring down inflation in the US., US., surely he needs to try and end
[00:04:38] end this war with Iran. That would would be one step. Another step would
[00:04:42] would be to pull back on the tariffs. tariffs. Another thing is we would
[00:04:45] would really want to emphasise here here is that those trade deficits
[00:04:48] deficits when the US buys something, something, they send dollars abroad.
[00:04:51] abroad. Then they get recycled back back into guess what treasuries.
[00:04:55] treasuries. And that sends yields
[00:04:56] yields down, not up. In terms of
[00:04:59] of how this impacts Americans. They've They've got a decision making process
[00:05:03] process coming along with the mid-terms.
[00:05:05] mid-terms. How is it going to affect affect average households and their
[00:05:09] their money and how they're feeling feeling in terms of this sort of
[00:05:11] of cost of living scenario. Putting
[00:05:14] Putting the economy back to on a a path to 2% inflation over the medium
[00:05:18] medium long-term is in the benefit benefit of all Americans, but especially especially those who are least well
[00:05:22] well off. However, I have to tell tell you, in the near term, those
[00:05:26] those less well-off Americans who who often rely on adjustable rate
[00:05:29] rate mortgages to purchase a home
[00:05:31] home or variable variable rate credit credit cards, all of that's going
[00:05:34] going to get more expensive. So those those same Americans are going to
[00:05:38] to bear a disproportionate burden burden of those adjustment costs
[00:05:41] costs with any interest rate hikes hikes and not just the one that was
[00:05:44] was put out yesterday, but the two two that I expect over the next several
[00:05:48] several months. Economist Joseph Joseph Brusuelas there. Well, let's
[00:05:51] let's now turn our attention to the
[00:05:53] the UK and the Bank of England. It It will make its decision at lunchtime
[00:05:57] lunchtime today. And the central central bank is widely expected to
[00:06:00] to keep interest rates on hold at at their meeting, despite facing
[00:06:04] facing an increasing rate of price price rises. If we look at the latest
[00:06:08] latest figures out for inflation, inflation, they were out this time
[00:06:10] time yesterday showing inflation inflation hitting 3.1% in August,
[00:06:14] August, the highest level for five
[00:06:16] five months, driven largely by increases increases in fuel costs. Kathleen
[00:06:20] Kathleen Brooks is research director director at the trading platform
[00:06:23] platform XTB, and explained why she she believes the Bank of England
[00:06:27] England will not move on interest interest rates today. There's individual
[00:06:30] individual reasons why the Bank of of England doesn't need to follow follow the ECB and The Fed for now.
[00:06:34] now. The first thing, of course, course, is that our interest rates rates have been higher certainly
[00:06:38] certainly than the ECB anyway. And And the dilemma here is different
[00:06:42] different isn't it? I mean when you you look at the US and you hear they're they're raising rates, you're kind
[00:06:45] kind of thinking oh, well maybe we we need to do the same thing. But
[00:06:48] But the American economy is much much more robust than the UK economy.
[00:06:51] economy. And our growth is absolutely absolutely minimal at the moment, moment, isn't it. And our labour
[00:06:55] labour market is not looking that that healthy either. Yeah. I would
[00:06:59] would agree that the labour market market is a really, really weak point. point. We've seen private sector
[00:07:02] sector wage growth is now below the
[00:07:05] the level of inflation. And we've we've also seen payrolled employment
[00:07:08] employment that's actually been falling. falling. So yeah, you're completely completely right. The US economy
[00:07:12] economy is on track to increase by
[00:07:15] by 5.1% this quarter. And our growth growth rates are just a mere fraction
[00:07:18] fraction of that. And I think that that the Bank of England. They'll
[00:07:21] They'll want to see more evidence evidence that this inflation spike
[00:07:24] spike caused by the energy spike spike caused by geopolitics is having
[00:07:27] having a bigger and a broader impact impact on the economy before they
[00:07:31] they hike. But I do think that there's there's a potential for a hike in
[00:07:33] in November. Are you how worried worried are you, Kathleen, about
[00:07:37] about inflation going forward? Because Because of course, you know, Andrew
[00:07:40] Andrew Bailey was talking about it it himself in front of a you know,
[00:07:44] know, in front of a Commons select select committee recently. And he
[00:07:46] he was saying, you know, he is quite quite concerned and they're obviously
[00:07:49] obviously watching everything incredibly incredibly closely in the months months ahead. It's not just energy.
[00:07:53] energy. It's going to be food prices
[00:07:54] prices rising soon as well. Yeah.
[00:07:57] Yeah. Those headline prices are for
[00:08:00] for the longer the longer that energy
[00:08:02] energy prices remain high. It is
[00:08:04] is more worrying for sure. And it it gets harder for the Bank of England
[00:08:07] England to maintain that they can
[00:08:09] can keep a lid on price pressures pressures by keeping interest rates
[00:08:12] rates on hold, which is essentially essentially what they've done for
[00:08:16] for this year. Inflation is already already sorry, energy prices are
[00:08:19] are already above the Bank of England's England's adverse scenario, which
[00:08:22] which they only set out in July. July. So something does have to change.
[00:08:26] change. You know, food prices, energy energy prices they're the real key.
[00:08:30] key. But we don't have any evidence
[00:08:33] evidence that they are feeding into. into. They're having second round
[00:08:36] round effects. Essentially our economy economy is quite weak. So even if
[00:08:39] if there is an interest rate hike hike in November, I don't think we're
[00:08:42] we're going to be on a longer rate rate hiking cycle. It could be quite
[00:08:45] quite a shallow hiking cycle. And And I think that will be different
[00:08:49] different from the US. Kathleen Brooks Brooks there. Well, let's stay with
[00:08:52] with the UK and on to artificial artificial intelligence. King Charles
[00:08:56] Charles is calling on the AI tech
[00:08:58] tech giants to keep big tech. And
[00:09:00] And this is a quote in the service
[00:09:03] service of all humanity. The King King will seek reassurances from
[00:09:07] from tech bosses amid concerns about
[00:09:09] about the future of AI as he hosts
[00:09:11] hosts a summit today in Scotland. Scotland. He will address bosses
[00:09:14] bosses from some of the world's leading leading AI developers, including
[00:09:18] including Nvidia, Anthropic and OpenAI,
[00:09:21] OpenAI, and is expected to say the the new technology should be. As
[00:09:24] As we've just said, in the service
[00:09:27] service of humanity, community and and the natural world. Well, let's
[00:09:31] let's talk to Susannah Streeter, Streeter, who's chief investment
[00:09:33] investment strategist at Wealth Club.
[00:09:36] Club. And this is a very timely message. message. This is something that's
[00:09:40] that's been in the diary for King King Charles. And yet it's coming coming at a time when this debate
[00:09:43] debate is more heated than ever. ever. It certainly is heated, Sally,
[00:09:47] Sally, and certainly not all big big tech leaders are singing from
[00:09:50] from the same song sheet of warnings.
[00:09:53] warnings. You've got Anthropic and
[00:09:55] and OpenAI calling for this slow slow down, more measured approach
[00:09:58] approach to we've had Google DeepMind
[00:10:01] DeepMind co-founder Shane Legg also also warning that AI capabilities
[00:10:04] capabilities should not outrun safety safety controls. Yet Nvidia's Jensen
[00:10:08] Jensen Huang has said the industry industry should police itself. So
[00:10:11] So they're all coming together and
[00:10:14] and certainly representatives from from those companies to discuss whether
[00:10:18] whether shared principles really really are needed for the development
[00:10:21] development and deployment of AI.
[00:10:23] AI. It is extremely timely and actually
[00:10:25] actually it shows that the UK demonstrates demonstrates how the UK is trying
[00:10:29] trying to carve itself out as a global global leader when it comes to trying
[00:10:32] trying to set the rules of engagement
[00:10:35] engagement and the safety of boundaries.
[00:10:38] boundaries. For this technology that
[00:10:41] that is accelerating at a breakneck breakneck speed and is causing all
[00:10:44] all of this controversy around the the world. Yeah, absolutely. And And just to reaffirm that point you
[00:10:49] you made, Suzanne, about the UK trying
[00:10:51] trying to sort of position itself
[00:10:53] itself as a place where they're talking talking about safety and security
[00:10:56] security above anything else. We We had, of course, our former Prime Prime Minister Rishi Sunak, setting
[00:11:00] setting up three years ago the UK's UK's AI Safety Institute, which has
[00:11:04] has been putting out reports explaining explaining what is going on. And
[00:11:07] And this all comes as OpenAI has
[00:11:08] has had to admit to six more worrying
[00:11:12] worrying breaches on the part of of its own agents. And yet at the
[00:11:15] the same time, financial markets
[00:11:18] markets are having to sort of consider
[00:11:20] consider all this as well as the the enormous wealth this is currently
[00:11:23] currently bringing. Yes, and it is
[00:11:26] is bringing huge wealth. It's certainly
[00:11:29] certainly underpinning US growth
[00:11:30] growth at the moment and also contributing
[00:11:33] contributing to US inflation and
[00:11:36] and prompting The Fed Reserve to
[00:11:38] to raise interest rates because the
[00:11:40] the sheer sums being deployed into
[00:11:43] into this technology. Interesting Interesting reaction we've seen on
[00:11:46] on financial markets, chip stocks stocks falling. But actually the
[00:11:50] the hyperscalers, the likes of Microsoft
[00:11:53] Microsoft and Amazon are their share share prices rising slightly because
[00:11:56] because the feeling is that although although we may not get this kind
[00:12:00] kind of pushing at the edge of AI AI frontier technology, which could
[00:12:04] could affect demand for the semiconductor
[00:12:08] semiconductor chip industry, those those hyperscalers who've already already built out the infrastructure
[00:12:10] infrastructure may not have to pour pour more capital expenditure into
[00:12:13] into doing that and going even further, further, but could use what they've
[00:12:16] they've currently built and then then gain revenues from that. Susannah,
[00:12:19] Susannah, thanks again for your time time this morning. Susannah Streeter
[00:12:22] Streeter there from the Wealth Club. Club. Still to come, smart specs.
[00:12:26] specs. We try out the latest wearable wearable tech offering to augment
[00:12:30] augment your wearable augment your reality around the world world and across the UK.
[00:13:34] Stakes are high for Republicans and Democrats and for the American American people. For the latest, latest, follow us on The President's
[00:13:37] President's Path here. On BBC News.
[00:13:42] News. You're with BBC News. President President Trump threatened to cut
[00:13:45] cut trade with the European Union Union if it pursues a proposal to
[00:13:48] to make Canada the bloc's first ever ever associate member. Describing
[00:13:52] Describing the plan as laughable, laughable, Mr Trump said he would
[00:13:55] would view it as a hostile act that
[00:13:57] that could prompt further tariffs tariffs on the EU. The European Commission
[00:14:00] Commission president, Ursula von von der Leyen, had earlier told the
[00:14:03] the European Parliament she wanted
[00:14:05] wanted to work on opening the door
[00:14:07] door for Canada. Christophe Bondy Bondy is an independent arbiter,
[00:14:11] arbiter, arbitrator and principal principal at dispute resolution firm
[00:14:14] firm Douaire de Bondy and a former
[00:14:17] former senior Canadian government government trade negotiator, and
[00:14:19] and told me more about this relationship. relationship. Of course, I think
[00:14:23] think this is a huge opportunity opportunity for Canada and the EU,
[00:14:27] EU, and I think it aligns with comments comments that Prime Minister Carney
[00:14:30] Carney made at Davos at the beginning beginning of the year about like-minded
[00:14:34] like-minded countries aligning. There There are huge strategic advantages advantages between Canada and the
[00:14:38] the EU. Canada is an energy superpower.
[00:14:40] superpower. The EU is an enormous
[00:14:42] enormous 400 million plus market. market. And so this doesn't mean
[00:14:45] mean that Canada is ditching its
[00:14:48] its deep and strong and broad relationship relationship with the United States.
[00:14:51] States. It means it's building other other bridges or improving the ones
[00:14:54] ones that are there. Because of course, course, Canada already has the CETA,
[00:14:58] CETA, the Canada-eu Free Trade Agreement,
[00:15:01] Agreement, which I worked on myself myself and it's been in force about
[00:15:04] about 90% of it for the last ten
[00:15:06] ten years. And trades increased by
[00:15:09] by 75%. It's a question ratified,
[00:15:11] ratified, though, has it yet? CETA CETA hasn't been ratified by ten
[00:15:14] ten EU member states. That includes
[00:15:16] includes France, Italy and Poland, Poland, despite the fact that it
[00:15:20] it was signed nine years ago. As As you say. So yeah. But that's.
[00:15:23] that's. Not the are provisions. In In the agreement. There are provisions
[00:15:27] provisions in the agreement that that allow it provisionally to enter
[00:15:30] enter into force as soon as certain certain percentage of member states
[00:15:34] states ratify it, which happened happened ten years ago. So yes, that
[00:15:37] that is an issue. But in practice,
[00:15:40] practice, for example, sort of 99% 99% of trade between Canada and the
[00:15:43] the EU has been tariff free for the
[00:15:46] the last ten years. So the benefits
[00:15:48] benefits of that are there, of course,
[00:15:51] course, finalising ratification, ratification, which is a bureaucratic bureaucratic and political issue,
[00:15:55] issue, will be part of this. But But I think it goes well beyond that.
[00:15:58] that. They're talking about already.
[00:16:00] already. We're in entering into security security co-operation with the EU,
[00:16:03] EU, we're talking about trade in in energy increasing substantially.
[00:16:07] substantially. We're talking about about co-operation on scientific
[00:16:11] scientific fronts, co-operation on on education, a limited free movement
[00:16:15] movement of peoples. They're talking talking at least the Canadian side
[00:16:18] side had mentioned in targeted sectors. sectors. I think there's much to
[00:16:21] to be done and it's exciting. He He is very gung-ho about that, that's
[00:16:25] that's for sure. Let's move on to to tech. Again, one company looking
[00:16:28] looking to step into a controversial controversial eyewear market is Snap.
[00:16:31] Snap. It's just launched its latest latest model called specs, which
[00:16:35] which it says enables an augmented
[00:16:37] augmented reality experience using using artificial intelligence for
[00:16:40] for its users. Our North America America technology correspondent correspondent Lily Jamali has been
[00:16:44] been trying them out. Snap Inc here
[00:16:48] here in Santa Monica, California California is rolling out what they're
[00:16:51] they're calling specs. These are
[00:16:52] are augmented reality glasses that
[00:16:55] that they say act as a fully standalone
[00:16:58] standalone computer, but you might might look a little different walking
[00:17:01] walking down the street. Now to use use these AR glasses, I begin by
[00:17:05] by pressing the home button on my my hand and in front of me. What
[00:17:09] What I see is a home screen. Hey
[00:17:11] Hey specs, play my morning playlist.
[00:17:14] playlist. The idea is to be able able to play music. Take me the long
[00:17:17] long way. For real time navigation,
[00:17:20] navigation, watch TV and movies and and enable working, shopping and
[00:17:23] and real time translation in dozens
[00:17:26] dozens of languages. So if I press
[00:17:29] press this button, I can capture
[00:17:31] capture a video. You should be able
[00:17:33] able to see a white flashing light
[00:17:36] light right here in between my eyes eyes on the glasses. That's there
[00:17:39] there to indicate that filming is is taking place. One criticism that's
[00:17:43] that's come up with this form factor factor in general is privacy. Many
[00:17:46] Many people don't like being filmed filmed in public without their knowledge. knowledge. I've seen instructions
[00:17:50] instructions online about how to to hide the LED. Metre, for example,
[00:17:53] example, says it's remotely disabled. disabled. The camera on its devices.
[00:17:56] devices. When the firm is detected, detected, users tampering with the
[00:17:59] the indicator light. These aren't aren't available to consumers just
[00:18:02] just yet. They are available for for pre-order, but consumers can
[00:18:06] can actually get their hands on these
[00:18:08] these in the UK., in the US as well well as France in the fall. So in
[00:18:11] in just a couple of months and the
[00:18:13] the retail price is 2195 US dollars.
[00:18:17] dollars. Well, Lily also sat down down with the chief executive of
[00:18:20] of Snap. That's Evan Spiegel. And And at a time when there's increasing
[00:18:24] increasing warnings about the pace pace of AI development and the risks,
[00:18:27] risks, she asked him if he believes believes AI development is happening
[00:18:30] happening too quickly. What's most most important for us is that we
[00:18:34] we keep humanity at the centre, and and I think technology has great
[00:18:38] great opportunity to enhance our our lives, enhance humanity and that's
[00:18:41] that's how we've thought about developing developing specs and specs intelligence
[00:18:45] intelligence because specs are all all about improving your capabilities, capabilities, right? So when you're
[00:18:48] you're using specs and you're practising practising basketball, you're the
[00:18:51] the one who's getting better at dribbling. dribbling. You're the one who's working
[00:18:55] working on your basketball skills. skills. If specs are helping you you learn how to draw, it's not the
[00:18:59] the computer drawing for you. Specs Specs are helping assist you learn learn that new, you know, assist
[00:19:03] assist you in learning that that that new skill. And so I think for
[00:19:05] for us specs and AI are really about
[00:19:09] about enhancing what we can do as as humans rather than replacing us. us. And I think that's something
[00:19:13] something that's really important important to us. But do you think
[00:19:15] think that those other companies
[00:19:17] companies are moving too quickly?
[00:19:22] quickly? I think there's, you know,
[00:19:25] know, a real difference between doing
[00:19:28] doing cutting edge research and then then how that's actually implemented
[00:19:31] implemented in the world. And so so I think it's really important important moment to be thoughtful
[00:19:35] thoughtful in terms of the way that that we're actually using this new
[00:19:38] new technology to make sure it's it's furthering what's best for humanity,
[00:19:41] humanity, what's best for our society. society. And I'm glad that there's
[00:19:44] there's a really thoughtful conversation conversation happening right now
[00:19:47] now about the best way to do that. that. Do you have any position on
[00:19:51] on what all of these policy makers
[00:19:52] makers here in the US and around around the world are clamouring,
[00:19:56] clamouring, clamouring for which which is more regulation or some
[00:19:59] some form of guardrails on this development?
[00:20:02] development? I think it's really really important that we focus on
[00:20:05] on the most tangible risks rather rather than imagined risks. It's
[00:20:09] It's really, really hard to build build thoughtful and effective regulation
[00:20:12] regulation around imagined risk. risk. And so what I would really
[00:20:16] really encourage policymakers, regulators regulators around the world to do
[00:20:19] do is to really think deeply about about what the tangible risks to
[00:20:22] to AI development are, and then work work to figure out what the best
[00:20:26] best guardrails are for those real
[00:20:29] real risks. Interesting. And that that is just the discussion that
[00:20:33] that will be going on today at Dumfries
[00:20:36] Dumfries House in Scotland, where where King Charles is hosting many
[00:20:39] many of the leaders in the world world of artificial intelligence.
[00:20:42] intelligence. There is more on our our website. Don't forget the event
[00:20:46] event today happening in terms of
[00:20:48] of financial markets. The value of of the pound traded etc will all
[00:20:52] all be on the move depending on the the Bank of England and its decision.
[00:20:55] decision. At lunchtime we'll bring bring you that live here on BBC News,
[00:20:59] News, of course, and if you wish wish to read more about the Monetary
[00:21:03] Monetary Policy Committee and what what it could decide or not, there
[00:21:07] there is plenty there for you on
[00:21:08] on our website and the BBC News app.
[00:21:24] MUSIC
[00:21:31] I know this might sound weird,
[00:21:34] but I've been obsessed with the oldest
[00:21:36] oldest person in the world for years.
[00:21:41] years. Meet adventurous, Brooklyn Brooklyn based, Oscar nominated filmmaker
[00:21:45] filmmaker Sam Green. Since 2015,
[00:21:47] 2015, he's been travelling the world, world, chronicling the forever changing
[00:21:51] changing holders of the title of
[00:21:52] of oldest person in the world. Survey
[00:21:55] Survey has included Kane Tanaka in in Japan, who held the title for
[00:21:59] for four years. And then there's
[00:22:00] there's the oldest person ever, Jeanne
[00:22:03] Jeanne Louise Calment, who when she
[00:22:05] she died in 1997, was 122 years old.
[00:22:07] old. In her later years she recorded
[00:22:10] recorded a rap album. The thing I I liked about the film Sam Green's
[00:22:14] Green's investigation of these very very senior citizens has become a
[00:22:16] a lifelong project. A documentary documentary based on his survey so
[00:22:19] so far has just been released. He He has long been fascinated by why
[00:22:23] why the news media and the public
[00:22:26] public are so interested in the title title holder of the oldest person
[00:22:29] person in the world. To this day, day, I still don't fully understand
[00:22:32] understand it. Is this a fear of
[00:22:35] of death? Is this a fear of fate
[00:22:38] fate or a you know, one of those
[00:22:40] those things like with the car crash
[00:22:43] crash where you can't look away but
[00:22:44] but you don't want to look at it? it? In making his documentary, Sam
[00:22:48] Sam Green found there was nearly nearly always a desire on the part
[00:22:51] part of others to find out if there's there's a secret to longevity. The
[00:22:54] The elderly people, he observed, observed, had all kinds of answers
[00:22:57] answers for why they'd led a long long life. One woman stated she'd
[00:23:01] she'd live for a long time because because she'd stayed away from men.
[00:23:04] men. She also said her secret was was eating three raw eggs a day.
[00:23:08] day. Two, you know, so it's like like the media descends on these
[00:23:11] these people. Everybody asks them them what their secret is and they
[00:23:14] they say something and everybody everybody runs with that. This documentary
[00:23:18] documentary often shows that other other people, the outside world is
[00:23:21] is often much more intrigued by the the oldest person in the world than
[00:23:25] than the subjects who hold that title.
[00:23:27] title. But this film isn't just about about the very old. It's also about
[00:23:31] about life and death and events in in the filmmaker's own life the birth
[00:23:35] birth of a son and his own confrontation confrontation with a life threatening
[00:23:39] threatening illness. These things things started to creep into the
[00:23:41] the movie, so over time it becomes
[00:23:43] becomes a larger meditation, I hope,
[00:23:46] hope, about time and the mysteries mysteries of being alive and fate
[00:23:50] fate and all these big questions
[00:23:52] questions that we ask ourselves.
[00:23:55] ourselves. The last person I interviewed, interviewed, a Spanish woman named
[00:23:58] named Maria Branyas, she was very very funny. She even was making fun
[00:24:02] fun of me, which I love. But in.
[00:24:04] in. At a moment in the interview interview she said, you are young.
[00:24:08] young. I don't know. Now is the time
[00:24:11] time to do good works. What you were
[00:24:14] were saying is you're young and you
[00:24:16] you have time, so use it. And I think
[00:24:18] think that's a beautiful thing to
[00:24:23] to appreciate. Over the last ten ten years, Sam Green has met many
[00:24:27] many of those who've held the title title of oldest person in the world,
[00:24:31] world, but there's been one holdout
[00:24:32] holdout the current title holder, holder, 117-year-old Ethel Caterham,
[00:24:36] Caterham, who lives in Surrey, just just outside London. She was born
[00:24:40] born in Edwardian times. She is the
[00:24:43] the first person in ten years who
[00:24:46] who has rebuffed my overtures. But
[00:24:48] But she did let King Charles visit visit her, didn't she? When I saw
[00:24:52] saw a video of her in King Charles
[00:24:55] Charles and I thought, Charles, not
[00:24:58] not me, you know she's British. She's
[00:24:59] She's the last Edwardian. So I guess guess she feels some allegiance to
[00:25:03] to the King. But you know, come on. on. I've been doing this for ten
[00:25:06] ten years. Even though this documentary documentary focuses on the very old
[00:25:10] old and very fragile, it makes the the point that there is much to learn
[00:25:14] learn from observing them and from from the filmmaker himself about
[00:25:17] about what it means to live a thoughtful
[00:25:19] thoughtful life. It is an unexpectedly
[00:25:22] unexpectedly life affirming film.
[00:29:12] I will say at the very first protest, the Janta Party had organised
[00:29:15] organised about a month ago and this
[00:29:18] this is so much bigger. We've been been driving towards the site of
[00:29:21] of this wildfire, but we've just just stopped at the side of the road
[00:29:24] road here because of what we saw saw out the window. Spain is still
[00:29:27] still burning. This man has been been pulled out successfully. It's
[00:29:31] It's taken a mammoth mammoth rescue rescue effort. These young rebels
[00:29:34] rebels are heading back to the front
[00:29:36] front line to pull those hunter beasts.
[00:29:40] beasts. They're which these men have have been trying to take two years
[00:29:43] years now. From the entrance of the the pub this morning, you get very
[00:29:47] very little sense of the terrible terrible scenes that were witnessed
[00:29:49] witnessed here last night. There.
[00:29:51] There. When the story breaks. BBC
[00:29:55] BBC News.
[00:30:10] Live from London. This is BBC
[00:30:12] News. I'm Sarah Campbell. The King
[00:30:14] King issues an unusually pointed pointed response after Earl Spencer,
[00:30:17] Spencer, Princess Diana's brother, brother, makes fresh claims about
[00:30:20] about him in his new book. Microsoft's Microsoft's head of AI tells the
[00:30:24] the BBC his competitors approach approach to training their models
[00:30:27] models could have a disastrous impact impact on the well-being of humanity.
[00:30:30] humanity. I think that if we all
[00:30:33] all create AI that are able to act
[00:30:36] act autonomously, that can define define their own objectives. We're
[00:30:40] We're essentially seeding a new silicon silicon species, which will no doubt
[00:30:43] doubt compete with us for resources.
[00:30:46] resources. All eyes on the Bank of of England with inflation on the
[00:30:50] the rise, what will Andrew Bailey Bailey and his team decide on interest
[00:30:54] interest rates? I'm Sally Bundock
[00:30:57] Bundock yes, we'll have more on that that in business also. We're trying trying the