Browse content similar to 14/01/2014. Check below for episodes and series from the same categories and more!
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Prime Minister unveiled financial incentives for councils in England | :00:00. | :00:00. | |
which approve new shale projects. Critics say the incentives amount to | :00:00. | :00:00. | |
bribes. Now on BBC News, all the latest | :00:00. | :00:00. | |
business news live from Singapore. The Japanese Prime Minister rounds | :00:00. | :00:21. | |
up his African tour with a stop in Ethiopian. | :00:22. | :00:27. | |
Malaysia, hiring foreigners in the fast food industry. | :00:28. | :00:38. | |
Welcome to the programme. Japan's Prime Minister is in Ethiopia for | :00:39. | :00:41. | |
the final stages of an African tour, where he has visited | :00:42. | :00:47. | |
Mozambique and Ivory Coast. It is the first time a Japanese leader has | :00:48. | :00:51. | |
visited the region since 2006. He will deliver a speech at the | :00:52. | :00:57. | |
headquarters, emphasising Japan's relationship with the continent. Our | :00:58. | :01:02. | |
correspondent has more. It has been eight years since a last | :01:03. | :01:07. | |
official visit by a Japanese leader to Africa. The continent is home to | :01:08. | :01:13. | |
one of the fast growing economies. It is rich with minimal resources | :01:14. | :01:16. | |
and have attractive consumer markets. Japan's Prime Minister is | :01:17. | :01:22. | |
keen to promote trade ties. This brought a large business delegation. | :01:23. | :01:27. | |
At a brief stop, Shinzo Abe troubled to the Ivory Coast where the economy | :01:28. | :01:34. | |
is bouncing back after emerging from after a decade of violence and | :01:35. | :01:41. | |
instability. Next, Mozambique. Shinzo Abe signed a raft of | :01:42. | :01:46. | |
agreements, including at credit of almost $670 million of loans to help | :01:47. | :01:52. | |
develop infrastructure. He comes fresh off the back of an African | :01:53. | :01:58. | |
tour by China's Prime Minister. The comparisons are unavoidable. Japan | :01:59. | :02:03. | |
has been engaged with Africa for decades but has slipped behind China | :02:04. | :02:09. | |
in importance. Its trade with the region accounts for more than five | :02:10. | :02:10. | |
times that of Japan. region accounts for more than five | :02:11. | :02:16. | |
interpreted Shinzo Abe's visit as an effort to counter China's Athers in | :02:17. | :02:22. | |
the region. It is ironic that when Shinzo Abe addresses his keynote | :02:23. | :02:26. | |
address, it will be held in African union headquarters, built and | :02:27. | :02:37. | |
financed by the Chinese. The Detroit show takes place this | :02:38. | :02:42. | |
week. A different show full US automakers have survived tough times | :02:43. | :02:46. | |
in previous years of debt and bailouts. There are optimistic | :02:47. | :02:57. | |
prospects. Our sales are up 52% in China last year alone. Moving | :02:58. | :03:03. | |
forward, the economy is expanding. Around China, 7.5%. There will be | :03:04. | :03:13. | |
millions of vehicles. We have the number one vehicle in the world and | :03:14. | :03:18. | |
China. We will bring all of our new vehicles to China. They love the | :03:19. | :03:22. | |
Ford brand. Stay with us. More details later. | :03:23. | :03:33. | |
Shares of Japanese spirits maker are high this morning. There are | :03:34. | :03:44. | |
acquiring Jim Beam. As part of the deal, the Japanese company will take | :03:45. | :03:52. | |
on the debt. It will make the Japanese company the world's | :03:53. | :03:56. | |
third-largest spirits maker. For more details, visit the website. | :03:57. | :04:05. | |
Malaysia has banned fast food outlets from hiring foreigners. | :04:06. | :04:09. | |
At least one in six workers from Malaysia are from poorer countries | :04:10. | :04:14. | |
like Indonesia. The government is in the businesses to employ locals | :04:15. | :04:21. | |
instead. -- keen for businesses. Our correspondent has more. | :04:22. | :04:31. | |
Most of the staff who work here are locals. The government says more | :04:32. | :04:37. | |
Malaysians would work is they didn't have to compete with foreigners. | :04:38. | :04:41. | |
From now on, fast food outlets have to make sure their staff are 100% | :04:42. | :04:48. | |
Malaysians. It will affect our service. Editor but slow. It might | :04:49. | :04:58. | |
affect our sales. Malaysians are frustrated with foreigners, who they | :04:59. | :05:00. | |
blame for causing crime, working longer hours for low pay. This | :05:01. | :05:06. | |
customer is tired of slow servers from foreigners who do not speak the | :05:07. | :05:10. | |
local language. The government said a lot of Malaysians want to work | :05:11. | :05:15. | |
here. Is that your experience? Yes. They want to work. But after they | :05:16. | :05:23. | |
work for a few days, sometimes they are tired or not interested anymore. | :05:24. | :05:29. | |
They resign. This food outlet has had trouble finding the staff. The | :05:30. | :05:33. | |
hiring son has been out for more than one year. Not a lot of | :05:34. | :05:37. | |
Malaysians what to do this job. Foreigners who add up working here | :05:38. | :05:42. | |
do the cleaning. The labour here is cheap. Customers do not have to | :05:43. | :05:48. | |
clean up after themselves fast food outlets. Thank you. This person | :05:49. | :05:57. | |
earns $300 a month. That is enough to take off his wife's family and | :05:58. | :06:03. | |
his family. But that is barely enough to survive in Malaysia. Even | :06:04. | :06:08. | |
if employers increase the salaries, it is not conquerors of a wider | :06:09. | :06:13. | |
problem. Foreigners are mainly working in construction, plantations | :06:14. | :06:17. | |
as domestic helpers. If the government is serious about moving | :06:18. | :06:22. | |
away from cheap labour pool, have to start with those sectors first. | :06:23. | :06:28. | |
Affection of Australia once more of those foreigners. They want to boost | :06:29. | :06:42. | |
the skilled immigrant intake of the middle of next year. There is a | :06:43. | :06:48. | |
skill -- need for skilled workers in the mining sectors. Few Australians | :06:49. | :06:52. | |
are putting their hands up for those jobs. Our correspondent has more. | :06:53. | :06:59. | |
Our population is not at the moment supporting the numbers of skilled | :07:00. | :07:05. | |
workers we need. Objections are going through to 2025. We will be | :07:06. | :07:11. | |
2.8 million skilled workers short. Between now and then, we have to | :07:12. | :07:15. | |
train up our workforce but we cannot avoid the fact we need large numbers | :07:16. | :07:22. | |
of skilled migrants. You know how much of a hot topic immigration is | :07:23. | :07:28. | |
in Australia. How do you explain the proposals the Australian workers | :07:29. | :07:32. | |
looking for jobs? In Australia, we had a mining boom. That has sucked | :07:33. | :07:41. | |
out from the east over to the west. Large numbers of highly skilled | :07:42. | :07:44. | |
workers are leaving the commercial construction and residential | :07:45. | :07:47. | |
construction and manufacturing sectors. That is why they resorted | :07:48. | :07:58. | |
to programmes that are short-term and three-year these programmes | :07:59. | :08:02. | |
skilled workers. We are not training people in these jobs that we need | :08:03. | :08:08. | |
and to be in the places that we need in time, so we need to look at these | :08:09. | :08:15. | |
alternatives. The earnings season is under way for | :08:16. | :08:21. | |
corporate America. JPMorgan Chase the first two of America's largest | :08:22. | :08:26. | |
banks to report the result. The US economy is on the mend. Corporate | :08:27. | :08:32. | |
earnings are not improving at the same pace as stock market. Our | :08:33. | :08:37. | |
correspondent has more. JPMorgan, Bank of America, CitiBank, | :08:38. | :08:45. | |
Goldman Sachs, Morgan Stanley. Some of America's largest banks, | :08:46. | :08:50. | |
combined, they make almost $75 billion in profits. Many banks have | :08:51. | :08:55. | |
been cutting expenses and releasing money set aside for bad loans. The | :08:56. | :09:00. | |
profits big banks made last year has not been seen since the peak of the | :09:01. | :09:06. | |
US housing bubble in 2006. In the last 12 months, the share price for | :09:07. | :09:11. | |
some of America's largest banks have gone up anywhere from 25 to 35%. It | :09:12. | :09:18. | |
was a big driver for some of the record highs seen on US markets in | :09:19. | :09:24. | |
2013. This year, that might not continue for financial institutions. | :09:25. | :09:31. | |
Banks no longer have to rely on the low interest breaks. And lots of | :09:32. | :09:36. | |
home owners were reminded -- refinancing mortgages. There were no | :09:37. | :09:42. | |
longer be finances. Banks are not getting that sort of profit anymore. | :09:43. | :09:50. | |
Also, regulators are finally going after financial institutions that | :09:51. | :09:53. | |
sort of mortgage-backed securities. As for the loans led to the collapse | :09:54. | :09:57. | |
of the US housing market and the financial crisis. JPMorgan is paying | :09:58. | :10:03. | |
$13 billion to settle charges and others will soon follow including | :10:04. | :10:07. | |
Bank of America, which is expected to pay the steepest fine. | :10:08. | :10:12. | |
Mortgage-backed securities, the instrument that great banks to | :10:13. | :10:17. | |
record highs, maybe the same ones that temper profits this season. | :10:18. | :10:26. | |
That is it for Asia Business Report. Thank you for watching. | :10:27. | :10:37. | |
These are the headlines: Francois Hollande will make his first public | :10:38. | :10:46. | |
appearance since allegations surface about his affair with an actress. | :10:47. | :10:51. | |
A spate of arson attacks in Brazil where 12 have been shot and killed. | :10:52. | :10:54. | |
The police might be behind the deaths. | :10:55. | :10:57. |