Business Weekly
Business Daily
BBC
4.4 • 816 Ratings
🗓️ 10 July 2021
⏱️ 49 minutes
🧾️ Download transcript
Summary
Authorities in China ordered Didi to stop taking new ride sharing customers, and banned the sale of the app, because of data sharing issues. Investors in the newly floated company are furious, but this isn’t the first kind of regulatory intervention China has made. So what’s behind this crackdown? As numerous sporting events take place this weekend we’ll be looking at the political power wielded by sports stars and what that means for the brands that sponsor them. We’ll head to a geo-thermal plant in Cornwall, UK, to find out whether the industry could provide secure, reliable renewable energy in a de-carbonised world. Plus, we’ll hear from the woman trying to make amends for her family’s part in slavery. Business Weekly is presented by Lucy Burton and produced by Clare Williamson. (Image: A vehicle of China's ride-hailing platform Didi Chuxing, Credit: Getty Images)
Transcript
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| 0:00.0 | Hello and a very warm welcome to Business Weekly with Lucy Burton. |
| 0:10.1 | As Europe celebrates a weekend of exciting sporting fixtures, we're going to be getting in on the act. |
| 0:16.4 | We'll be taking a look at player power. |
| 0:19.0 | As sporting stars increasingly take political stances, |
| 0:22.8 | what does this mean for the brands who support them? And we'll ask whether college athletes in the US |
| 0:28.4 | who bring in so much revenue for their schools get paid properly. First, the Chinese ride hailing app |
| 0:35.1 | Didi arranges a whopping 60 million journeys every day. |
| 0:40.5 | So when the company announced they'd be listing on the New York Stock Exchange, |
| 0:44.7 | investors got incredibly excited. |
| 0:47.3 | They piled in on the IPO last week, only for shares to slide after the weekend |
| 0:52.5 | when the Chinese authorities ordered Didi to stop |
| 0:55.6 | signing up new users and took the app off domestic stores. The cyberspace administration of China |
| 1:02.4 | said it had huge concerns about how the company uses the personal data it gets from its customers. |
| 1:09.0 | Like other similar apps, it knows a lot about its passengers. |
| 1:13.2 | Here's Hong Hao, head of research at Bocom International. |
| 1:16.5 | Cars are a moving collection of data, basically. |
| 1:20.8 | As people drive, you know, the cars actually automatically collect a lot of information |
| 1:25.3 | that may not be known to users, to drivers. |
| 1:29.3 | So I think as a result, you know, for data safety concern, for national security, and also for |
| 1:35.3 | privacy protection, there are some very good reasons to look into how this data collection |
| 1:41.3 | process is being conducted and how the data is being used after they're collected. |
| 1:48.4 | Investors are furious and have even launched a class action in the belief that Diddy's bosses knew |
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