E.U. agrees to another Brexit delay
This. Marketplace podcast is brought to you by equities then premier platform, bringing private markets to the public get access to tech unicorns like Uber. Airbnb and more sign up for free today at equities N dot com slash morning report. This marketplace podcast is brought to you by. Indeed, are you hiring with? Indeed, you can post a job in minutes set up screener questions than zero in on your shortlist. Qualified candidates using an online dashboard get started today and indeed dot com slash marketplace. That's indeed dot com slash marketplace. Another late night deal gives Britain more time to thrash out. It's Brexit strategy live from London. This is the marketplace morning report from the BBC World Service. I'm Victoria Craig filling in for unwanted good morning. UK Prime Minister Theresa may is expected to make a lunchtime statement in parliament today about the European Union's decision to extend the Brexit deadline in the wee hours of last night. The EU agreed to a flexible Brexit extension. The B the BBC's stooping Chan has more off to five hours of talks over according trimmed Dinna EU leaders agree to offer the UK a Halloween Briggs at deadline. The new timetable was a compromise. Thrashed out in the absence of British Prime Minister, Theresa may, the so-called flex tension means the U K can leave before the October thirty first deadline if lawmakers approved the withdrawal agreement they have rejected three times the president of the European Council. Donna toe said the bull was back in Britain's cooled this extension. This s flexible aside expected and so little shelter. Than I expected about the still enough to find the best possible solution. Please do not waste this time. Mrs may aknowledge that was huge frustration with the delay. I do not pretend the next few weeks will be easy. All there is a simple way to break the deadlock in parliament. But we have a duty as politicians to find a way to fulfill the democratic decision of the referendum. So what do businesses make all Stephen Phipps and chief executive of manufacturing lobby group? Make you k so the sector was ready suffering because of Brexit uncertainty Hawthorne, stockpiling, we have seventy percent of the not investing at the moment and more worrying right now is we have you opinion, customers now delaying contracts for manufactured goods coming from the UK. We are now entering a prolonged uncertainty period. But at least we don't have no deal tomorrow. And so now what we need is quickly. The government to come to a solution with EU leaders now United over the extension. Mrs maes. Next task is to get agreement from her very divided parliament in London. I'm the BBC's John for marketplace. Let's do the numbers. The pound is little changed this morning on those Brexit developments while London's footsie one hundred is down about three tenths of a percent. And despite upbeat news, the US and China are moving closer together on trade talks stocks in Asia, we're mostly lower to Venezuelan our overnight and battled President Nicolas Maduro agreed to finally allow humanitarian aid into the country. The decision comes amid a worsening economic crisis and ongoing power struggle with self-declared. Interim president one Guido the BBC's Audrey Tinley has more in detail abide address. Mr. Maduro said an agreement had been reached to alleviate acute food and medicine shortages quotable. We reached an agreement the international committee of the Red Cross and the boulevard in government to work together with the UN agencies to bring into Venezuela over support over humanitarian aid that can be ruled while still respecting Venezuela's. Over anti mister Medina previously refused to accept international assistance, insisting it would be the first step towards US intervention. He denies his country is suffering a humanitarian crisis and blames US sanctions for problems in the economy, including hyperinflation, which the World Bank says will hit an estimated ten million percent. This year, a UN report last month said Cuarto Venezuela's thirty million people are in urgent need of aid. It said three point seven million people. There are Mao Norwich d- earlier this year, the president with the help of the military loyal to him blocks and effort from Mr. Guadalupe to bring in aid from Colombia, Brazil and curious out saying too much of it was provided by the US in London. I'm the BBC's onery. Tin Lynn for marketplace. Now, India is the world's fastest growing major economy. But it still faces a number of challenges this year's election, which begins today is highlighting one in particular jobs. Or the lack of them. The BBC's Samir Hashmi reports from the busy streets of Mumbai the last five years, and he has gone to me has seven percent growth every year, but unemployment is at the forty five year, high more than half the population in this country is under the age of twenty five and India needs to create eight to ten million new jobs every year to absorb it's young folk force. I went to a job fair in the southern Indian city of coachee where we met five thousand graduates toned up for that event. Only two hundred and fifty getting hired and we smoke people there the communists have been to fifty job interviews company. See they're looking for candidates with experience I've lost one highest allies I had experienced, but there are many people's who's ready to work in less salaries. But problem is that there are not many opportunities for them to where the people who told us about the problems facing. But if you look at India, why is India facing this problem there to issues private companies are not investing enough. It's really the government investing, which is creating jobs and unless private investment goes up. They won't be enough jobs in the private sector, which is. The bulk employer in the country. The second problem is even though there's millions of graduates that pass out every year with degrees. Most of them are unemployable because they lacked the skill sets the employers require the courses that are being taught in schools and colleges are very outdated. Some yet chucker were-they is managing director of a private company. And this is what he told us. I think more than unemployment my unemployed ability where you have a large number of young people with a lot of potential, but they don't have the right skills and the right direction for the job that already exist. I think when it comes to government they have to really go back to the drawing board with the curriculum. If they really want to solve the skill gap problem that our country has the degree itself is a blue value anymore because employers know, that, you know, there are millions of graduates with the same degree how you distinguish between all the opposition parties led by route gun the happy attacking premise Jenner in the more the on his economic record. They say that not only in of jobs have been created. There's a huge agrarian crisis more than fifty percent of the popular. Depends on farming. And they have really been struggling to make money now, prime minister more the has rolled out a lot of subsidies for him. In fact, both opposition and prime minister Modi's poppy have announced that if they come back to power they will unveil favorable policies for farmers can help increase their income. And that many say will be one of the crucial issues in this election in Mumbai on the BBC some of your hush money for marketplace. And from a much quieter London. I'm Victoria, Craig with the marketplace morning report from the BBC World Service. This marketplace podcast is brought to you by the United States postal service. Every day. We talk about how innovative companies are reinventing the way business happens. But none of that's possible without the right people to enable it people who get packages to over one hundred and fifty million delivery points affordably and on time with the latest technology and expertise. So who can help you deliver the future of commerce, the United States postal service? See why they deliver more ecommerce packages to homes than anyone in the country at USPS dot com slash future.