Business Weekly
Business Daily
BBC
4.4 • 816 Ratings
🗓️ 4 December 2021
⏱️ 50 minutes
🧾️ Download transcript
Summary
The world’s biggest clothing retailer, Inditex, has a new boss, the 37-year old daughter of the company’s founder. Will Marta Ortega manage brands like Zara, Pull & Bear and Massimo Dutti in the same way her father did or will she take a different path? And do consumers still want fast fashion? Plus, we hear why mining the metals and minerals used in green technologies can contribute to the world’s climate change problems and what is needed to ensure that they are mined in a way that doesn’t infringe on human rights or damage local communities. Also, one of the founders of Transparency International tells us the money stolen by corrupt leaders is being ploughed into western assets like property – with the help of an army of financial and legal professionals. Meanwhile, Covid has forced many workers to re-assess and re-evaluate their lives and as a result, they are quitting their jobs in record numbers. It's being called the Great Resignation. And the increasing appeal of the ukulele; how the small guitar-like instrument is making a big noise among the young. Business Weekly is presented by Matthew Davies and produced by Clare Williamson. (Image: Zara shopper with brown bag; Credit: Getty Images)
Transcript
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| 0:00.0 | Hello and welcome to Business Weekly. I'm Matthew Davis. |
| 0:08.6 | In this edition, the world is rushing to get metals that are building the green technologies |
| 0:13.6 | of the future, electric cars, wind turbines and so on. But in their haste to get the likes of |
| 0:19.7 | lithium, cobalt and copper out of the earth, |
| 0:22.6 | could the mining companies risk being on the wrong side of climate change targets and human rights laws? |
| 0:29.5 | Plus, one of the founders of Transparency International tells us corrupt politicians, |
| 0:34.0 | dictators and business people around the world are squirrelling away their stolen |
| 0:38.9 | money in Western assets like property. But they can't do this alone. He says an army of |
| 0:44.6 | accountants, bankers, lawyers and others are helping them to do it. First though, lots has changed |
| 0:51.1 | in the world of fashion since I sharpened up in the 1980s as a trench coat wearing |
| 0:56.2 | neuromantic. Since the turn of the century, garments have become so cheap that they are often |
| 1:01.9 | worn just once and thrown away. Mass-produced clothing items are often designed in one country, |
| 1:08.3 | made in another or several others, and sold in yet another. |
| 1:12.2 | It's what's increasingly called fast fashion, not least because of the speed at which |
| 1:17.1 | styles can go from catwalk to High Street. |
| 1:22.9 | Beauty, beauty, come and goes. |
| 1:27.2 | And leading the well-dressed pack in all this is the world's biggest clothing retailer, Indie Text. |
| 1:33.2 | An advert for Zara Woman there. |
| 1:38.6 | Zara is one of the brands owned by Indie Text, the Spanish company founded by Ammancio Ortega and his wife Rosalia in 1975. |
| 1:48.5 | From humble beginnings, Indie Tex now has nearly 7,000 stores and is valued at around $100 billion. |
| 1:57.1 | Even though Mr. Ortega resigned as chairman in 2011, his involvement in an influence over the company remains. |
| 2:06.1 | And this week, his 37-year-old daughter Marta Ortega was named as the new chairperson. |
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