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This episode is brought to you by Huggies Little Movers.
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It's fun having a baby that loves.
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To move, but it can be challenging.
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To find a diaper that can keep up with them.
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Huggies Little Movers is designed to move.
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With your baby with either the double.
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Grip strips or the new HugFit 360 degree waistband.
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You can be confident relying on Huggies Little Movers for your active little ones.
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Huggies Little Movers made with double grip.
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Strips or the new HugFit 360 degree.
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Waistband so your little double can keep moving like you Huggies. We got you baby. Have you ever loved your HR or payroll software? Didn't think so. Deal changes that it's one global AI native platform for HR, IT and payroll. Built in house and backed by 2,000 experts in 130 countries, it keeps you compliant, it scales as you grow and it's actually nice to use. Book your demo@deal.com Sirius that'S-E-E-L.com Sirius.
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Is the UK becoming uninvestable? Another big pharma firm doctors its plans. Live from the uk, this is the Marketplace Morning Report from the BBC World Service, I'm Stuart Clarkson. Good morning. Well, we'll start in the UK today where a pharmaceutical giant has scrapped plans worth more than a billion dollars to expand its operations there. US company Merck, known as MSD in Europe, had planned to build a life sciences hub in London, but has pulled out blaming a lack of UK government support. Richard Torbet, chief executive of the association of the British Pharmaceutical Industry.
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It's an incredible blow, but it really needs to be a wake up call. The UK really has the potential to be winning more billion pound R and D investments and instead of that, we're losing it. So we really need to understand why and we really need to try and put this right so that we can continue to grow for the future. I genuinely think that there is an access to medicines problem. Increasingly, we're seeing medicines not being economically viable to launch here. So if you look at the medicines that have been approved in the European Medicines Agency, 35% of those are not available in England, which is a pretty stark statistic, really.
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Well, MSD is the latest pharmaceutical company to cut investment in the UK. This is after AstraZeneca scrapped a $600 million expansion of its vaccine manufacturing site earlier this year. Venture capitalist Sir Nigel Wilson says the UK has a problem. There's an interesting backstory here, which is there's a UK company called Verona Pharma which was M listed and then delisted in 2020, went on the Nasdaq and has been taken over by Merck for $10 billion. Almost all the gains on that have been made in America. ARM's another example of that, where it got sold by Britain for 50 billion. It's now worth 150 billion. Of that 100 billion, Britain got 0.8%. Well, the UK government said the country was the most attractive place to invest in the world, but admitted there's more work to do. Let's do the numbers now. And European stocks are up slightly this morning ahead of a decision from the European Central Bank. Later on interest rates, they're expected to remain unchanged at 2%. And Swedish fintech company Klarna saw shares jump 30% on its wall street debut, giving it a market value close to $20 billion. The lender wants to be a challenger to credit cards and traditional bank. Next, Mexico plans to slap tariffs of up to 50% on cars from China and other Asian countries. This is after President Trump called for greater pressure to be put on countries buying oil from Russia. The BBC's Katie Silver's in Singapore and could tell us more about this one.
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Really, it's about trying to curry favour and maintain the relationship with the us, but protecting jobs is also part of it. So interestingly, it's not just cars, it's goods in about 1400 different categories of products. Those will all face tariffs in the order between 10, up to 50%. It's basically any countries that Mexico doesn't have a trade agreement with, including South Korea, India, Thailand, Indonesia, Russia as well. So Mexico, for example, has become the world's biggest destination for cars from China, much to the annoyance of the us, which of course, as part of this Trump's tariff wars, has taken significant aim at China.
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That's the BBC's Katie Silver reporting. There's a warning workers worldwide need better protection from extreme heat. A report from the World Health Organization and the World Meteorological Organization says heat stress affects their health and productivity. The BBC's Imogen Foulkes has more Temperatures in some areas of Spain are expected to hit or remain around 43 degrees Celsius.
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It's become a regular part of our summer extreme heat. But now the World Health Organization says the health risks, especially when we are working, are so serious that we need systemic long term changes. Rudiger Krech is the WHO's director of climate and Health. If you're working in heat and your body temperature increases by over a longer period, over 38 degrees Celsius, then you are at risk of severe heat related stress and stroke. During heat waves, productivity falls and accidents can increase. Construction workers or people who work on farms are particularly at risk. Some European countries are already considering reduced summer hours on building sites, a move welcomed by Swiss trades union representative Nico Lutz.
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Often on building sites they are already behind schedule, so they are really under pressure to keep working. That's why we need the building companies to take responsibility and to just say above a certain temperature, it's irresponsible.
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When schools went back in Switzerland, the advice to teachers take your classes to the swimming pool. But Dagmar Rosen, the head of the Swiss Teachers association, says that is not realistic.
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We can't do all of our classes in the swimming pool. I just want people to remember that this is about making sure our children can learn in an environment that is comfortable for them and that our teachers can work in conditions that are bearable.
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The WHO agrees cancelling school because it's too hot can't be an option. Rudiger Krech says that's one lesson we should have Learned from the COVID19 pandemic. Pandemic school children are suffering still from it. Just thinking that the easy solution is.
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Very often the most expensive on the children.
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The WHO's recommendations include a society wide consultation with governments, employers, workers and local authorities all included. But there will be a cost. But buildings will have to be adapted. Sometimes work will get done more slowly. I'm the BBC's Imogen folks for Marketplace.
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And no holiday season joy for Disney. It's planned maiden voyage of the new Disney Adventure cruise ship from Singapore in December has just been put back to March. Now the company's blamed unexpected shipbuilding delays, says it wants to make sure the final product lives up to Disney's high standards. Passengers get a refund or 50% off a future sailing. Thanks for listening. In the UK I'm Stuart Clarkson with the Marketplace morning report from the BBC World Service.
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Poetry has the power to connect our inner universe and the outer world. I'm Maggie Smith, poet and host of the Slowdown, a podcast from American Public Media. Each weekday find time to take a breather from your to do list or doom scrolling for that matter and take in a moment of reflection or with a hand picked poem. Listen to the Slowdown wherever you get podcasts.