Browse content similar to 05/02/2014. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
in September's referendum would increase costs for the company. Time | :00:00. | :00:07. | |
for Asia Business Report with Rico Hizon. | :00:08. | :00:14. | |
Microsoft installs a new chief executive and chairman, ushering in | :00:15. | :00:21. | |
a new era for the technology giant. And, Thailand's politically | :00:22. | :00:28. | |
sensitive rice scheme is dealt a blow. | :00:29. | :00:35. | |
We begin with silicon valley, where a long and dissipated changing of | :00:36. | :00:45. | |
the guard has taken place at Microsoft -- Silicon Valley. Satya | :00:46. | :00:51. | |
Nadella has been tagged as the third ever CEO of Microsoft. He started | :00:52. | :00:55. | |
working there more than two decades ago. He will replace Steve Ballmer | :00:56. | :01:09. | |
who announced his retirement last year. Bill Gates will become | :01:10. | :01:12. | |
technology advisor to the company. Earlier, I spoke to Todd Bishop, | :01:13. | :01:27. | |
asking him how the tech world was receiving the management change. A | :01:28. | :01:30. | |
lot of shareholders wanted someone who could come in from the outside | :01:31. | :01:34. | |
can shake the company down. I think that is why there was so much | :01:35. | :01:39. | |
excitement about Alan Mullally, and the prospect of him coming in. I | :01:40. | :01:45. | |
think they will take a fresh look at Microsoft. I think they will be | :01:46. | :01:51. | |
disappointed by one of Steve Ballmer's the tenants coming into | :01:52. | :01:59. | |
takeover. -- lieutenants. Tell me about him. History well respected | :02:00. | :02:06. | |
inside the company. He is not a household name in the broader tech | :02:07. | :02:11. | |
world. He is a quiet but strong individual, with a lot of principle. | :02:12. | :02:15. | |
According to people who look at him, he will look at the data | :02:16. | :02:19. | |
closely and not be afraid to make bold decisions. He needs to | :02:20. | :02:25. | |
translate that respect into the broader world and into the stock | :02:26. | :02:29. | |
market. Analysts are saying that it will basically be a triumvirate | :02:30. | :02:36. | |
running the company. There will be John Thompson running the board, | :02:37. | :02:41. | |
Bill Gates as the advisor, and Satya Nadella. I think the fact that you | :02:42. | :02:58. | |
see John Thompson, the former CEO, rising so quickly, this suggests he | :02:59. | :03:06. | |
will be giving the CEO a longer chain to make changes. To that | :03:07. | :03:16. | |
extent, I think we will see change, but I don't think it will be the | :03:17. | :03:21. | |
radical change that we have seen. Over time, I think we will see Satya | :03:22. | :03:32. | |
Nadella make his own mark on the Co. Morgan Stanley reached a $1.25 | :03:33. | :03:41. | |
billion settlement. The investment bank was sued by the Federal Housing | :03:42. | :03:45. | |
agency over mortgage-backed securities it sold in the years | :03:46. | :03:50. | |
leading up to the financial crisis. Shares in Panasonic have surged more | :03:51. | :03:54. | |
than 15% after closing stronger than expected earnings. -- posting. Its | :03:55. | :04:00. | |
quarterly profit more than tripled to $2.4 billion, and it was near the | :04:01. | :04:05. | |
end of a multi-year restructuring process. Sony's price has also been | :04:06. | :04:17. | |
rising. Share prices rise 8% to a one-week high on news that it may | :04:18. | :04:25. | |
unload its Vaio brand to Japanese industrial partners. The government | :04:26. | :04:36. | |
witness in Thailand has said that China has cancelled a contract to | :04:37. | :04:39. | |
buy more than a million tonnes of rice. It would have been the first | :04:40. | :04:51. | |
age of a much bigger sale and Thailand's rice scheme is now being | :04:52. | :04:56. | |
investigated by a corruption commission. | :04:57. | :05:01. | |
For more than two years, Thai farmers have been able to sell their | :05:02. | :05:04. | |
entire rice crops to the government for a guaranteed price. It has been | :05:05. | :05:10. | |
an understandably popular policy with them, but it has left the | :05:11. | :05:13. | |
government holding an immense and growing rice mountains, estimated at | :05:14. | :05:18. | |
more than 15 million tonnes, which has proved hard to sell overseas | :05:19. | :05:23. | |
without making a huge loss. When I met the minister now in charge of | :05:24. | :05:27. | |
the rice scheme 12 days ago, I asked him whether he was having any | :05:28. | :05:31. | |
success and loading the stocks. We have been doing pretty well lately. | :05:32. | :05:37. | |
At the beginning, we had some problem, but that was only a short | :05:38. | :05:43. | |
time. We have been doing quite well, and we are still doing the | :05:44. | :05:49. | |
normal sales. But you are selling at a much lower price than you paid for | :05:50. | :05:58. | |
it? Significantly lower? With this kind of programme, you need some | :05:59. | :06:02. | |
budget for this. You may say, this is the loss. Even if the last | :06:03. | :06:08. | |
government's scheme, they also provided a budget for this. The | :06:09. | :06:11. | |
amount of the subsidy is not that much different. Really? Yes. You | :06:12. | :06:19. | |
actually know how much this rice scheme has cost since you have been | :06:20. | :06:23. | |
in government? Can you put a figure on it? We haven't closed the account | :06:24. | :06:29. | |
for the year, so we don't know exactly, but we can estimate that | :06:30. | :06:38. | |
the amount of money the subsidy, the loss that you are calling, is not | :06:39. | :06:44. | |
much different. At the time, he was still in talks with China over a | :06:45. | :06:49. | |
deal to export more than a million tonnes for yet undisclosed price, | :06:50. | :06:55. | |
with a hope of selling a further 6 million tonnes. That would help to | :06:56. | :07:00. | |
fill a gaping hole in the national budget, but now it has fallen | :07:01. | :07:03. | |
through. This leaves the government with few options for people to sell | :07:04. | :07:09. | |
the last crop. Until the government intervenes, it has limited chance to | :07:10. | :07:18. | |
make a difference. Protesters have joined the anti-government movement | :07:19. | :07:22. | |
in Bangkok. Critics now believe the government will have two abandon the | :07:23. | :07:25. | |
rice scheme if Thailand is to recover its previous position as a | :07:26. | :07:33. | |
rice exporter and as a benchmark for quality. | :07:34. | :07:39. | |
India's car sales dipped for the first time in over a decade last | :07:40. | :07:41. | |
year, and the entire industry is feeling the effect of the slowdown. | :07:42. | :07:46. | |
As the country gears up to host one of the biggest auto expos in Asia, | :07:47. | :07:55. | |
can the come out of the slump? Trying to get back into the | :07:56. | :08:05. | |
spotlight, these are the first new cars from Tata Motors in three | :08:06. | :08:08. | |
years. It is one of the country's biggest carmakers, but sales fell by | :08:09. | :08:13. | |
more than a third last year, worse than any of its Indian rivals. It | :08:14. | :08:17. | |
wasn't meant to pan out like this. This was the ultracheap small car | :08:18. | :08:25. | |
Tata created, supposed to revolutionise the industry. But the | :08:26. | :08:31. | |
$2000 car has disappointed since its launch in 2009. The company now | :08:32. | :08:37. | |
wants to change it selling strategy. If you get the buyers, and the | :08:38. | :08:40. | |
demographic of the buyers, you see more younger buyers coming to the | :08:41. | :08:44. | |
market. Obviously, cheap is not what they are looking for. They are | :08:45. | :08:49. | |
looking for the right value, and something that announces their | :08:50. | :08:52. | |
identity. We embarked on a repositioning of the Nano. It is not | :08:53. | :09:01. | |
just Tata. Every other car maker in the country is try to tempt the | :09:02. | :09:05. | |
consumers, in a market down 10%, one of its worst years in over a decade. | :09:06. | :09:09. | |
Customers are hardly walking into the showrooms these days, borrowing | :09:10. | :09:13. | |
has become more expensive in the last couple of years. About two | :09:14. | :09:16. | |
thirds of all cars are livid in India are being sold, and purchasing | :09:17. | :09:23. | |
decisions are delayed. The market is not uniformly bad. | :09:24. | :09:37. | |
Foreign firms like Ford are sitting on months of orders. Launching a new | :09:38. | :09:42. | |
prototype of the existing compact car, the company says getting India | :09:43. | :09:46. | |
right is critical for Ford's global success. Arie investments are on | :09:47. | :09:53. | |
track, we are committed to investing $2 billion in India. Part of that is | :09:54. | :10:02. | |
for a new facility which will be operational by the end of this year. | :10:03. | :10:09. | |
While India's urban roads may be struggling with traffic jams, there | :10:10. | :10:12. | |
are millions of people still looking to buy their first car. So, | :10:13. | :10:17. | |
carmakers in Asia's third largest auto market are hoping that the auto | :10:18. | :10:28. | |
show will drive interest rates down and help drive the improvement of | :10:29. | :10:34. | |
the market. Stock will thank you for investing your time with us on Asia | :10:35. | :10:39. | |
Business Report. -- thank you for investing your time with us. | :10:40. | :10:47. | |
Our top stories: The Pakistani Taliban have condemned government | :10:48. | :10:54. | |
representatives who failed to turn up for long planned talks. The group | :10:55. | :11:00. | |
say they are still willing to negotiate. Government sources say | :11:01. | :11:02. |