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This Marketplace podcast is supported by

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Disney. On April 3rd, Disney

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will be hosting its annual meeting of

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shareholders. Learn more about how to vote

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along with a list of all Disney

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nominees at votedisney.com. One

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of China's biggest phone makers wants to get

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into cars. Live from the BBC

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World Service, this is the Marketplace Morning Report. Will

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Bain, in for Leanne Byrne today. Great, as always,

0:22

to have your company first thing in the morning.

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Yes, this is Xiaomi. We're talking about best-known for

0:26

its smartphones. So why cars? A question the BBC's

0:29

Monica Miller has been taking a look at. Xiaomi

0:32

has started taking orders for its first

0:34

EV, called the Speed Ultra 7. It'll

0:37

run about $70,000 and is being

0:39

compared to Porsche's Taycan and Panorama

0:41

sports car models. The move will

0:43

see the technology giant take on

0:45

rivals like Tesla and BYD. China's

0:48

EV sector has grown rapidly in

0:50

recent years due to purchasing subsidies.

0:53

Dozens of domestic automakers are now facing

0:55

a stiff price war to get ahead

0:57

of the crowded market. In

0:59

Singapore, I'm the BBC's Monica Miller

1:01

for Marketplace. Well, shares in Xiaomi are more

1:03

than a percent right now in Hong Kong as we check

1:05

the numbers. And

1:08

the wider Hang Seng Index in Hong Kong

1:10

also up today, just shy of a percent

1:12

right now. Elsewhere, shares in one of the

1:15

world's biggest insurance marketplaces, that's Lloyds of London,

1:17

are up more than a percent on pre-tax

1:19

profits of more than $10 billion.

1:21

But those results came with an

1:23

interesting warning that Lloyds' members could

1:26

be exposed to the tune of more than $3 billion

1:29

following the collapse of the France's Scott

1:31

Key Bridge in Baltimore. Well, let's

1:34

return to China and Beijing has announced

1:36

it'll lift tariffs it had previously placed

1:38

on Australian wine imports, the BBC's China

1:40

correspondent Laura Bicker reports from Beijing. China

1:43

imposed tariffs of up to 200% on Australian

1:45

wine in 2020. After the then Australian Prime

1:50

Minister called for an objective,

1:52

independent assessment of how the

1:55

COVID-19 pandemic began. It

1:57

costs suppliers an estimated 1.2 billion. He

2:00

billion a silly dollars and less

2:02

than with the equivalent of eight

2:04

hundred and sixty nine olympic swimming

2:07

pools of wine in storage. And

2:09

then bad. A new Prime Minister,

2:11

Anthony Albanese became the first as

2:13

trillion Premier to visit Beijing since

2:16

Twenty sixteen. He said then that

2:18

it was in the interests of

2:20

both countries to stabilize the relationship.

2:23

The Bbc China correspondent law rebecca

2:25

them Now in response to Russia's

2:27

were in Ukraine, the European Union

2:29

opened it's markets Ukrainian farmers, but

2:31

that has provoked the backlash. Polish

2:33

farmers, for example, have been promote

2:35

protesting for months about what they

2:37

see as unfair competition. The Bbc,

2:39

Adam East and Immortal told us

2:41

before. The Polish: Some

2:43

Ukrainian governments are holding intergovernmental

2:45

talks in Warsaw. This is

2:47

principally to try and resolve

2:49

disputes over Ukraine in agricultural

2:52

imports to Poland. Polish farmers

2:54

have been protesting for several

2:56

months now, including blockading several

2:58

border crossings with you Crave

3:00

they're protesting about of competition

3:02

the said Sli from cheaper

3:05

Ukrainian foodstuffs but also rising

3:07

costs. In the backdrop to

3:09

the latest that talks is

3:11

that. From the use side more

3:13

terrorists. free access to the European

3:16

market was allowed for a whole

3:18

range of Ukrainian products. that's right.

3:20

But as of the same time

3:22

that sam agreement by the you

3:25

ambassadors a preliminary agreement of course

3:27

that is to extend front of

3:29

a year Ukraine's tariff free access.

3:31

The still time for more proposals

3:33

and pushback from Poland and France's

3:36

well have got involved in this.

3:38

They want increased quote is on

3:40

Ukrainian food imports so. It's subsidy

3:42

that the European Parliament still has to

3:44

sign off and the trying to get

3:46

that done before the current deal expires

3:49

in June. increasingly becoming a grain correspondent

3:51

very much the Bbc Poem correspondent Adam

3:53

East and I'm also thanks so much.

3:55

Return, same to and have a great

3:57

day. officials in the united

3:59

states say the Baltimore Bridge collapse could

4:02

pose a risk to global supply chains

4:04

and it's something already under strain of

4:06

course due to those ongoing attacks on

4:08

shipping through the Red Sea. It's pushing

4:10

up consumer prices including for food to

4:12

typically eaten during the Muslim holy month

4:14

of Ramadan. The BBC's Peter Mwangangi has

4:16

been to Kenya's port city of Mombasa.

4:20

Awad Omar Salim stands behind the

4:22

counter at his small shop in

4:25

Mombasa. On the counter is his

4:27

most prized product, dates. There

4:31

can be no Ramadan without dates. We're

4:33

taught through our religion that when we

4:35

break fast we must eat dates. The

4:39

dates at Awad's shop arrive at the

4:41

port of Mombasa from Saudi Arabia. It

4:44

is a key shipping route through the

4:46

Red Sea which has seen serious disruption

4:48

due to a rise in attacks on

4:50

commercial vessels. Awad planned

4:53

ahead to ensure his customers in

4:55

Mombasa's old sound market would have

4:57

their dates in time for Ramadan

5:00

but beating the delays came at a cost.

5:03

We've been charged more on freight costs. There

5:06

are high dollar exchange rates. Also

5:08

we usually get free duty on

5:11

imported dates which only takes effect

5:13

a week before Ramadan but ours

5:15

arrived early. Mombasa's

5:19

retailers are also feeling the heat of

5:21

the price increase by whole sellers. Awad

5:24

Omar is a trader in the city.

5:28

This year the sale of dates will

5:30

be difficult because when we

5:32

compare to last year one

5:34

box of dates would go for about

5:36

10 US dollars but now it's

5:38

going for 17 US dollars.

5:42

Customers across the whole of East Africa

5:44

are feeling the pinch. Jumetella

5:46

is the CEO for Kenya

5:48

Ships Agent Association. It

6:00

will get them a question of was sent

6:02

to remove the said that was lucky that

6:04

says that man but as he was this

6:06

one really don't know how long these things

6:09

would. Happen. Until

6:12

the security. Situation in the Red

6:14

ceased to be lasers, global supply

6:16

chains of energy and consumable could

6:18

be stretched for some time and

6:21

as the cost of living crisis

6:23

fights many of those who customarily

6:25

if these deuterium of them may

6:27

find the sweet food just out

6:29

of reach. This year. As

6:33

the Bbc peace and one Dungy reporting for

6:35

from the Kenyan foods city of Mumbai suffering

6:37

as to stop the end of the marketplace

6:39

moon or hope from the Bbc east wealth

6:41

and some spend. A

6:53

lot of people spend a lot of

6:56

money on things like skincare process and

6:58

and even surgery all in the name

7:00

of self improvement. But as the price

7:02

of perfection rises and at the time

7:05

to call it quits, I'm etti my

7:07

faith. Hope that this is uncomfortable. A

7:09

podcast. For marketplace this he then

7:12

we. Dig deep into the financial

7:14

trappings of self care and the

7:16

real motivation behind are spending choices.

7:18

Listen to this is uncomfortable wherever

7:20

you get your podcast.