Browse content similar to 29/04/2014. Check below for episodes and series from the same categories and more!
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has been arrested. The teacher, Anne Maguire, was 61, and a long serving | :00:00. | :00:00. | |
number of staff. Time for Asia Business Report. | :00:00. | :00:14. | |
President Obama seals a major security deal in Asia, but is it too | :00:15. | :00:20. | |
early to pop open the champagne on trade? And, big business, by | :00:21. | :00:26. | |
Singapore has become a key hub for transactions in China's currency. | :00:27. | :00:34. | |
Looking to Asia Business Report. President Barack Obama is wrapping | :00:35. | :00:43. | |
up his four nation trip to Asia today, after signing a ten year | :00:44. | :00:45. | |
military agreement with the Philippines. Last night, he was | :00:46. | :00:51. | |
feted with a state dinner in Manila. One of his main mission is was to | :00:52. | :00:58. | |
boost economic ties and set what is to be known as one of the biggest | :00:59. | :01:02. | |
trade deals, the TPP. How has he fared? We heard that the deal is a | :01:03. | :01:11. | |
lot closer now because of President Obama's visit. The trip has been a | :01:12. | :01:17. | |
success. It doesn't mean there is a lot of work left to do between now | :01:18. | :01:21. | |
and when the agreement goes into force. What are some of the work | :01:22. | :01:27. | |
that needs doing? The TPP is market access, and there is a lot that goes | :01:28. | :01:32. | |
into making it a 21st`century trade agreement, including environmental | :01:33. | :01:39. | |
rights, IP protection, and border issues. All of that only occurs if | :01:40. | :01:44. | |
there is increased market access. The biggest obstacle to market | :01:45. | :01:47. | |
access for a lot of countries is agriculture in Japan. So what the US | :01:48. | :01:52. | |
and Japan did in this past week, getting a pathway forward on these | :01:53. | :01:58. | |
difficult agriculture issues and water issues, is going to make | :01:59. | :02:01. | |
getting to the next round much better. Is it just about Japan? | :02:02. | :02:06. | |
Whistle medicines in Malaysia being an issue, and the US themselves. | :02:07. | :02:12. | |
President Obama went on this trip, but he failed to get approval from | :02:13. | :02:15. | |
Congress to push the TPP, so what is the likelihood to push it through? | :02:16. | :02:23. | |
One issue is the 12 party organisation, there has to be | :02:24. | :02:25. | |
accessed from all parties, including the US. Once the negotiators reach | :02:26. | :02:31. | |
an agreement, then the lawyers will have to come in from all 12 parties | :02:32. | :02:36. | |
to make sure that all of the highs are dotted and the keys are crossed. | :02:37. | :02:43. | |
Each of the countries has to pass the TPA from the Rome government. | :02:44. | :02:49. | |
That doesn't have to come now, he didn't have to get fast track or TPA | :02:50. | :02:53. | |
prior to the visit, but it will have to come after the general elections. | :02:54. | :02:59. | |
`` their own government. How important is Asia's economy right | :03:00. | :03:06. | |
now for the US? For US businesses, Asia is not an option, it is | :03:07. | :03:09. | |
essential. Trade and business is one of the three key components to the | :03:10. | :03:15. | |
rebalance the US towards Asia. It is political, military and trade. The | :03:16. | :03:22. | |
TPP is the cornerstone to that pivot. The use of China's currency, | :03:23. | :03:27. | |
the yuan, has grown exponentially in recent years. It is now the seventh | :03:28. | :03:31. | |
most used currency for global payments. Processing those payments | :03:32. | :03:36. | |
is big business, and according to new data, Singapore has just | :03:37. | :03:40. | |
overtaken London as the world's second largest clearing centre for | :03:41. | :03:52. | |
the yuan behind Hong Kong. This is really a story about China and South | :03:53. | :03:59. | |
East Asia. China has very extensive relationships in South East Asia, | :04:00. | :04:03. | |
and the role of Singapore as a hub in the region, particularly a | :04:04. | :04:07. | |
trading hub, is really important behind the growth of these numbers | :04:08. | :04:13. | |
as well. Singapore is growing 375% in use of the Chinese currency in | :04:14. | :04:17. | |
the last 12 months. That is a staggering amount, Michael. We know | :04:18. | :04:21. | |
that the UK finance minister, George Osborne, has put in a series of | :04:22. | :04:24. | |
measures to try to enable London to become a trading hub. What does it | :04:25. | :04:28. | |
take to be the top clearing centre? Singapore does it with | :04:29. | :04:33. | |
infrastructure. There is a dedicated clearing bank, which is by CBC in | :04:34. | :04:41. | |
Singapore, so infrastructure matters. Ultimately, you want very | :04:42. | :04:48. | |
convenient and good payment processes between a bank that is | :04:49. | :04:51. | |
making a payment on behalf of the customers to settle a supply | :04:52. | :04:54. | |
arrangement from China. Infrastructure matters. Relationship | :04:55. | :05:00. | |
with China is important as well. Singapore and its social, cultural, | :05:01. | :05:07. | |
and geographic relationship with China, it is on the same time zone, | :05:08. | :05:12. | |
and there are extensive sociocultural ties with China, that | :05:13. | :05:18. | |
is important. The market in Singapore is very organised these | :05:19. | :05:21. | |
days, in terms of its development of the services in its marketplace, the | :05:22. | :05:27. | |
central bank. And the financial community work together to develop a | :05:28. | :05:32. | |
market. How much should countries be competing for this business? What | :05:33. | :05:40. | |
does it take to compete with ease, and how much do you see it growing? | :05:41. | :05:43. | |
You should remember it is growing from a small base. There are still | :05:44. | :05:48. | |
other very big currencies that are used widely around the world, but | :05:49. | :05:54. | |
the Chinese one is growing very quickly. London is growing at over | :05:55. | :05:57. | |
200%, places like Taiwan, Australia, they are growing at over 200% as | :05:58. | :06:04. | |
well. The world's biggest make of | :06:05. | :06:09. | |
smartphones, Samsung electronics, have reported a 4% decline in sales | :06:10. | :06:13. | |
at its mobile phone division in the first quarter. Revenues at the | :06:14. | :06:16. | |
division fell to $32 billion in January, from the previous quarter. | :06:17. | :06:24. | |
It has been hit by slowing growth in smartphone sales in lucrative | :06:25. | :06:28. | |
markets like the US and Europe. Continuing with Samsung, the | :06:29. | :06:32. | |
high`stakes court battle that has with Apple, is expected to wrap up | :06:33. | :06:37. | |
this week in the US. Closing arguments will begin later today. | :06:38. | :06:41. | |
They are accusing each other once again of ripping off designs and | :06:42. | :06:47. | |
features, and the case could cost Samsung $2 billion if it loses. A | :06:48. | :06:54. | |
Japanese economic giant, Panasonic, has returned to profit. It has been | :06:55. | :07:00. | |
struggling with intense competition from Apple and Samsung, as well as | :07:01. | :07:04. | |
falling prices for gadgets. A weak yen, and efforts to restructure the | :07:05. | :07:07. | |
company, have paved the way for its gradual recovery. It is forecasting | :07:08. | :07:15. | |
further rises this year. Shares in Pfizer jumped $1 29, or 4%, on Wall | :07:16. | :07:21. | |
Street, following its offer to buy AstraZeneca for $100 billion. Pfizer | :07:22. | :07:29. | |
is now working on its next move, after AstraZeneca rejected its | :07:30. | :07:33. | |
second merger bid, which saw its shares jumped 12%. Talks are set to | :07:34. | :07:40. | |
continue with Australian food manufacturer, Goodman Fielder. It | :07:41. | :07:44. | |
rejected a bid of close to one point $2 billion. `` one $.2 billion. `` | :07:45. | :07:57. | |
1.2 billion. It makes some of straight's most recognisable food | :07:58. | :07:59. | |
products, but its financial performance has been weaker than | :08:00. | :08:03. | |
expected. Designers and manufacturers are doing some | :08:04. | :08:05. | |
amazingly creative things with 3`D printing. They make jewellery, | :08:06. | :08:09. | |
furniture and even industrial components. One company in China is | :08:10. | :08:15. | |
taking it a step further. They are using recycled materials, and they | :08:16. | :08:20. | |
have made ten houses with a 3`D printer, and has put them to use in | :08:21. | :08:27. | |
eastern China. At first glance, these houses look | :08:28. | :08:32. | |
like many others in Shanghai, but ten of them have been put up in a | :08:33. | :08:37. | |
day, without a single brick, tile, or even a builder involved in the | :08:38. | :08:40. | |
construction. They are China's first buildings to be made with 3`D | :08:41. | :08:48. | |
printing technology. Giant printers spread mixture of cement, sand and | :08:49. | :08:51. | |
other construction materials to build the walls, one layer at a | :08:52. | :09:04. | |
time. Like icing cake. `` like icing a cake. These houses are equipped, | :09:05. | :09:09. | |
easy and relatively cheap solution. TRANSLATION: You can construct the | :09:10. | :09:14. | |
whole walls in the factory and deliver them. Their work just needs | :09:15. | :09:18. | |
to pile them up with cranes. They are hollow inside, with columns. It | :09:19. | :09:30. | |
is very simple to do. The company says these buildings are | :09:31. | :09:32. | |
environmentally friendly, and can be printed to any digital design. The | :09:33. | :09:38. | |
cheap materials and the lack of manual labour mean that each one can | :09:39. | :09:45. | |
be printed for less than $5,000. The groundbreaking technology still has | :09:46. | :09:47. | |
a long way to go before mass production. Perhaps, with such a | :09:48. | :09:53. | |
small pricetag, we may see more of these 3`D buildings, even | :09:54. | :09:57. | |
skyscrapers, in Shanghai before very long. | :09:58. | :10:05. | |
A quick look at the markets, because most Asian stocks are currently a | :10:06. | :10:07. | |
tad lower. most Asian stocks are currently a | :10:08. | :10:20. | |
Essentially, markets are lower, a bit of caution sitting in because | :10:21. | :10:23. | |
the Federal Reserve in the US will be starting their two`day meeting on | :10:24. | :10:25. | |
interest rates a little later today. Our top stories: A BBC team has | :10:26. | :10:44. | |
gained rare access to Syria's biggest city, Aleppo, where | :10:45. | :10:48. | |
civilians remain under constant and indiscriminate attack. Rescuers are | :10:49. | :10:53. | |
digging through rubble for survivors of powerful tornadoes that have | :10:54. | :10:55. | |
ripped through central and southern | :10:56. | :10:56. |