Browse content similar to 28/05/2014. Check below for episodes and series from the same categories and more!
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assault. He broke into song in court as he recalled the early years of | :00:00. | :00:00. | |
his career. Now on BBC News all the latest business news live from | :00:00. | :00:16. | |
Singapore. Self driving cars, Google embarks on a new venture and we have | :00:17. | :00:22. | |
the exclusive details. We take a look at the Finance Minister who | :00:23. | :00:29. | |
will put India's economy back on track. Hello and welcome to Asia | :00:30. | :00:37. | |
Business Report. A stop and go button for a car with no control | :00:38. | :00:45. | |
steering wheel or petals? Something science fiction movies are made of? | :00:46. | :00:49. | |
It is something that Google wants to make a reality. They want to start | :00:50. | :00:54. | |
building their own self driving cars instead of buying other vehicles | :00:55. | :01:01. | |
coming they plan to manufacture their own vehicles. We can now speak | :01:02. | :01:06. | |
to a correspondent. Google share these images and you had access to | :01:07. | :01:10. | |
the team as well, what can you tell us about the car? The car is | :01:11. | :01:21. | |
deliberately cute looking, it is small and fit for a city, a two | :01:22. | :01:28. | |
seater with a smiling face to it. It is designed to be nonthreatening to | :01:29. | :01:33. | |
help with the acceptance of these vehicles in urban areas. The | :01:34. | :01:37. | |
windshield is made of a flexible type of plastic instead of glass so | :01:38. | :01:42. | |
that if the worst happens, one would come off a little better in an | :01:43. | :01:47. | |
accident. The technology is an extension of what we have already | :01:48. | :01:54. | |
seen. They had previously modified SUVs and other cars before and they | :01:55. | :01:57. | |
have been seen around the headquarters of the many in Silicon | :01:58. | :02:01. | |
Valley. This time they are taking it a step further. You say it is a | :02:02. | :02:06. | |
common sight at their headquarters but certainly not on their main | :02:07. | :02:10. | |
roads. Where are the legal to drive at this point? That is still an | :02:11. | :02:17. | |
interesting question. There is a whole patchwork of legality. Many | :02:18. | :02:23. | |
have introduced laws so that these cars can be used on the roads. The | :02:24. | :02:28. | |
goal is able to test them in California but in order to test | :02:29. | :02:31. | |
these new ones without titles or steering wheels, they will have to | :02:32. | :02:36. | |
fit them and will have to have a test drivers in the car at all times | :02:37. | :02:50. | |
`` pedals, and it will raise questions about the law and who is | :02:51. | :02:54. | |
liable at all times. We heard from the director of the project who told | :02:55. | :02:58. | |
us that they are trying to understand the limitations of the | :02:59. | :03:02. | |
project. What are the potential downsides? There is the whole legal | :03:03. | :03:09. | |
side to consider. What if you are in a self driving car and reading your | :03:10. | :03:13. | |
newspaper and there is an accident? Are you to blame or is the carmaker | :03:14. | :03:20. | |
Willian and what if we make commutes so easy that more and more people | :03:21. | :03:24. | |
will accept them and it will add to urban sprawl and congestion on the | :03:25. | :03:31. | |
roads? There are many things to consider as this technology pushes | :03:32. | :03:38. | |
us towards a brave new transportation future. Thank you for | :03:39. | :03:44. | |
that groundbreaking story. For more you can visit our website. He may | :03:45. | :03:58. | |
have an unenviable job. Arun Jaitley is India's new finance minister and | :03:59. | :04:01. | |
the man tasked with revitalising India's economy. He is putting | :04:02. | :04:04. | |
economic growth on the top of his list. He is well`known close ally | :04:05. | :04:07. | |
and friend of the new Prime Minister. We hear from our | :04:08. | :04:12. | |
correspondents for more. The new Indian government under the | :04:13. | :04:15. | |
leadership of Narendra Modi has officially taken charge. The man who | :04:16. | :04:25. | |
has been chosen to steer the economy is Arun Jaitley. But who is he? He | :04:26. | :04:28. | |
is a senior and experienced politician. He was the leader of | :04:29. | :04:31. | |
opposition in the upper house of the Indian Parliament for the last five | :04:32. | :04:34. | |
years. He was also the Minister during the BJP government between | :04:35. | :04:37. | |
1988 and 2004. He was the Minister for Commerce and later in charge of | :04:38. | :04:42. | |
the Law and Justice Department. He is also a lawyer. Now as he takes | :04:43. | :04:47. | |
charge of the Finance Ministry, he will take that experience to revive | :04:48. | :04:50. | |
the economy which has been growing at its slowest pace in the last | :04:51. | :05:03. | |
decade. Controlling inflation driven by high food prices is one of the | :05:04. | :05:06. | |
biggest challenges he faces. This was one of the main reasons the | :05:07. | :05:10. | |
previous government was voted out. There are already concerns that food | :05:11. | :05:16. | |
prices could be pushed up again. The other important task would be to | :05:17. | :05:20. | |
improve the business climate. Foreign investors have stayed away | :05:21. | :05:23. | |
from India in last few years due to policies and tax issues. India is | :05:24. | :05:29. | |
also one of the toughest laces to do business `` places. They rank Turkey | :05:30. | :05:40. | |
fourth when it comes to ease of doing business. Improving the | :05:41. | :05:44. | |
business climate will be a critical area because that will help in | :05:45. | :05:46. | |
providing the investment cycle which in turn will give a big push for | :05:47. | :05:51. | |
India's economic growth rate. He has also been in charge of the Defence | :05:52. | :05:54. | |
Ministry and that is why many people are wondering, how will he handle | :05:55. | :05:58. | |
two ministries at the same time? He has made it clear that he will be in | :05:59. | :06:02. | |
charge of the Defence Ministry only for the time being as a new minister | :06:03. | :06:06. | |
is expected to be appointed in the next four to five weeks. His main | :06:07. | :06:16. | |
job will be the Finance Ministry. Earlier I spoke to someone from | :06:17. | :06:21. | |
Berkeley 's Bank. I asked him if he is the right candidate when it comes | :06:22. | :06:29. | |
to fixing the economy of India. Given his stature in the party, he | :06:30. | :06:32. | |
is effectively the second most important leader after Narendra Modi | :06:33. | :06:35. | |
and clearly, his position in the Cabinet, even though he lost the | :06:36. | :06:37. | |
elections has been secured for a prestigious position. Given that it | :06:38. | :06:41. | |
was expected that he would become the finance minister, I think a lot | :06:42. | :06:44. | |
of preparation would have already been done in the background. At this | :06:45. | :06:56. | |
juncture, what he does bring to the table is political will to execute | :06:57. | :06:58. | |
some difficult decisions. That is a key requirement for the job because | :06:59. | :07:02. | |
it is not going to be pleasant over the next couple of years. We know | :07:03. | :07:18. | |
that Arun Jaitley has already met with the Central Bank governor in | :07:19. | :07:21. | |
India and they have a very tough task ahead of them with high | :07:22. | :07:24. | |
inflation and high interest rates. How will they boost growth? Arun | :07:25. | :07:27. | |
Jaitley has greeted in some good steps. We have already seen | :07:28. | :07:33. | |
inflation numbers coming down at the margin and our forecasts are that | :07:34. | :07:36. | |
inflation will move lower as long as we get a good monsoon. That is the X | :07:37. | :07:45. | |
Factor. Overall, if there is co`ordination within the Finance | :07:46. | :07:47. | |
Ministry, if reforms are being undertaken, there is nothing to say | :07:48. | :07:50. | |
that inflation cannot be brought down. That has been the experience | :07:51. | :07:52. | |
of the previous governments. GlaxoSmithKline is under | :07:53. | :07:54. | |
investigation by Britain's Serious Fraud Office. That is over its | :07:55. | :08:03. | |
commercial practices. The firm says it will fully cooperate. Earlier | :08:04. | :08:06. | |
this week, Chinese authorities accused staff of bribing government | :08:07. | :08:08. | |
and hospital officials in the country. GlaxoSmithKline refused to | :08:09. | :08:10. | |
comment on whether the investigation was connected to this incident. They | :08:11. | :08:22. | |
are also facing criminal investigation into similar | :08:23. | :08:25. | |
allegations in Poland and Iraq. Cadbury is one of the oldest and | :08:26. | :08:28. | |
most famous chocolate makers in the world. It is suffering a major | :08:29. | :08:41. | |
setback in Malaysia after traces of pig DNA were found in two varieties | :08:42. | :08:44. | |
of its signature chocolate bar, Dairy Milk. They have been removed | :08:45. | :08:47. | |
from shelves across the majority Muslim country. They said the | :08:48. | :08:48. | |
following. We have been speaking to an | :08:49. | :09:09. | |
individual regarding business strategy and we asked him what it | :09:10. | :09:12. | |
would take for Cadbury to restore its image in Malaysia. We are | :09:13. | :09:17. | |
learning that the products are being withdrawn. I think there are still | :09:18. | :09:20. | |
some steps ahead in terms of communicating with Malaysian | :09:21. | :09:22. | |
authorities and reassuring the public that this will not happen | :09:23. | :09:25. | |
again. And the chocolate will be clean chocolate. You have to keep it | :09:26. | :09:44. | |
up. You can't lower the bar, you need to put in a lot of effort and | :09:45. | :09:48. | |
sales will drop for a while. How long will it take? Three to six | :09:49. | :09:52. | |
months. In half the time if they deal with it well, they will be back | :09:53. | :09:56. | |
on track. We will now have a look at the Asian markets. Yet another | :09:57. | :10:03. | |
record close from the S 500 on Wall Street. The Nikkei is at its | :10:04. | :10:13. | |
highest level in two months. The dollar is high at the moment which | :10:14. | :10:18. | |
is helping Japanese export reliant firms. We also have a rise in metal | :10:19. | :10:25. | |
prices which is helping the Australian index. That is it for | :10:26. | :10:29. | |
this addition of Asia Business Report. Thanks for watching. The | :10:30. | :10:47. | |
main news stories. President Obama has announced that the US plans to | :10:48. | :10:50. | |
keep almost 10,000 troops in Afghanistan next year, following the | :10:51. | :10:52. | |
end of American involvement in combat | :10:53. | :10:54. |