Browse content similar to 24/06/2014. Check below for episodes and series from the same categories and more!
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paid tribute, describing his family as extraordinary people. Now on BBC | :00:00. | :00:00. | |
News, all the latest business news, live from Singapore. | :00:00. | :00:19. | |
Japan's biggest carmakers are recalling millions of vehicles over | :00:20. | :00:22. | |
potentially explosive airbags. How will investors react? Sri Lanka's | :00:23. | :00:27. | |
slave island is seeing new developments. Welcome to the | :00:28. | :00:41. | |
programme. Shares in Japan's three biggest carmakers, Honda, Nissan and | :00:42. | :00:48. | |
Toyota, are falling today after they announced a major recall over faulty | :00:49. | :00:55. | |
airbags. Japanese companies are not the only ones affected. Honda has | :00:56. | :01:02. | |
been hardest hit by the problem, forced to recall an additional 2 | :01:03. | :01:09. | |
million vehicles. Nissan has recalled 750,000. Mazda has also | :01:10. | :01:21. | |
been affected. The part was supplied by another Japanese company. Other | :01:22. | :01:25. | |
carmakers including Toyota have also issued recalls over the same part. | :01:26. | :01:31. | |
Globally, Japanese manufacturers have recalled a combined total of | :01:32. | :01:36. | |
nearly 7 million vehicles. There have been no reports of accidents or | :01:37. | :01:38. | |
injuries because of the issue so far, however Toyota has one report | :01:39. | :01:45. | |
of a seat cover learning. Japanese carmakers are not the only ones | :01:46. | :01:48. | |
dealing with recalls at the moment. General Motors has recalled more | :01:49. | :01:54. | |
than 17 million cars in the US this year, more than it sold in the | :01:55. | :01:59. | |
previous year. The recalls have involved faulty ignition switches, | :02:00. | :02:02. | |
responsible for over one dozen deaths. General Motors has also | :02:03. | :02:07. | |
issued recalls over seatbelts, transmissions and airbags as well as | :02:08. | :02:12. | |
potential fire issues. Thank you for joining us. Will this affect the | :02:13. | :02:24. | |
Japanese reputation for quality? These problems have occurred in | :02:25. | :02:26. | |
vehicles that are no longer being made. The carmakers are confident | :02:27. | :02:34. | |
that these problems are not in vehicles currently being made. The | :02:35. | :02:39. | |
impact on sales might be limited. The impact on reputation, however is | :02:40. | :02:46. | |
yet to be determined. Other companies that will be kit will be | :02:47. | :02:48. | |
the supplier that made these faulty airbags. In an earlier recall, they | :02:49. | :02:53. | |
took a charge of $300 million, and you can expect similar charges this | :02:54. | :03:00. | |
time around as well. We know that these recalls takes the total number | :03:01. | :03:07. | |
of vehicles recalled to almost 7 million globally. That is a lot of | :03:08. | :03:12. | |
cars. Is this a sign of manufacturing standards going down? | :03:13. | :03:19. | |
Is there just tougher scrutiny? Suddenly the numbers are | :03:20. | :03:22. | |
astonishing, especially when you look at a company like General | :03:23. | :03:26. | |
Motors, with the millions and millions of vehicles it has recalled | :03:27. | :03:30. | |
in one year. It will be alarming to consumers as well. I would say that | :03:31. | :03:34. | |
the quality of vehicles produced today has never been better. It has | :03:35. | :03:38. | |
much to do with the sophistication of many of the small parts and | :03:39. | :03:43. | |
electronics going into cars. A good deal of scrutiny goes into them and | :03:44. | :03:47. | |
people are not willing to tolerate even small glitches that might have | :03:48. | :03:54. | |
been overlooked in the past. Staying with transport, cruise | :03:55. | :03:59. | |
operators are looking to Asia's a growing middle class to increase | :04:00. | :04:03. | |
their business over the past decade. Business is growing 14% annually in | :04:04. | :04:10. | |
the region. Many governments are building new infrastructure to | :04:11. | :04:17. | |
accommodate new cruise liners. The industry is betting on growth in the | :04:18. | :04:25. | |
region. They are supportive of the initiative because they all like | :04:26. | :04:28. | |
tourism, which provides significant economic benefits for their | :04:29. | :04:33. | |
countries. And cruising is very popular around the world, providing | :04:34. | :04:37. | |
high customer satisfaction rates. It is of great value. There is a lot of | :04:38. | :04:41. | |
potential for cruising in Asia, given the population and, as you | :04:42. | :04:47. | |
say, the growing middle class. Where is it coming from in Asia, | :04:48. | :04:51. | |
specifically? We have seen this industry grow by 14% this year. Is | :04:52. | :04:58. | |
it sustainable? I think that it is sustainable. Growth is coming from | :04:59. | :05:04. | |
China and Japan and Singapore, the main areas, but throughout Asia, | :05:05. | :05:07. | |
there is increased interest. The great thing about cruise liners is | :05:08. | :05:11. | |
they are movable assets and we can move them to where there is demand. | :05:12. | :05:17. | |
What about the headlines? We have seen the tragic ferry disaster in | :05:18. | :05:21. | |
South Korea and we also have events like the Costa Concordia sinking in | :05:22. | :05:27. | |
2012. Doesn't this put people off from taking cruises? Those were very | :05:28. | :05:32. | |
unfortunate cases, of course, but in general, cruising is a very safe | :05:33. | :05:37. | |
vacation with high customer satisfaction. Historically, it is | :05:38. | :05:42. | |
safer going from one port to another. Really, we think that | :05:43. | :05:49. | |
growth will continue and is sustainable. Japanese Prime Minister | :05:50. | :05:55. | |
Shinzo Abe is expected to unveil several new measures aimed at | :05:56. | :06:00. | |
boosting growth in Asia's second largest economy today, including | :06:01. | :06:07. | |
cutting corporate tax and legalising the casino industry. The South | :06:08. | :06:10. | |
Korean government is looking to sell its stake in one of the country's | :06:11. | :06:13. | |
biggest financial companies for the first time. The government holds a | :06:14. | :06:18. | |
50% stake in the bank, worth $4.5 billion, but they have had trouble | :06:19. | :06:24. | |
privatising the lender. South Africa's longest ever work stoppage | :06:25. | :06:28. | |
has officially ended after unions reached a deal with platinum mining | :06:29. | :06:32. | |
companies. Tens of thousands of workers will receive a 20% increase | :06:33. | :06:37. | |
to their basic wage. They have been on strike for the past five months, | :06:38. | :06:42. | |
affecting South Africa's economy and the earnings of mining companies. | :06:43. | :06:46. | |
Oracle is buying Microsystems for more than $5 billion. It is its | :06:47. | :06:54. | |
first acquisition in five years. The chief executive hopes that it will | :06:55. | :06:59. | |
help Oracle boost flagging growth. Oracle makes software and hardware | :07:00. | :07:07. | |
for restaurants and hotels. Google has plans for its own domain name | :07:08. | :07:11. | |
registration service. It is testing a service which will allow consumers | :07:12. | :07:16. | |
to search and purchase or find an transfer a domain names to the | :07:17. | :07:20. | |
business. Since the end of the civil war, the physical face of Colombo | :07:21. | :07:25. | |
has been radically changed as part of what Sri Lanka calls | :07:26. | :07:30. | |
beautification. Long`standing low income areas are being demolished to | :07:31. | :07:33. | |
make way for prestige developments. One such area in the city centre was | :07:34. | :07:40. | |
known as a slave island. We report on a vanishing way of life. It is | :07:41. | :07:45. | |
like a small Sri Lanka in the beating heart of the city. Slave | :07:46. | :07:49. | |
island, Muslim, Buddhist, Christian and Hindu. Everyone jostles | :07:50. | :07:55. | |
side`by`side. Life is lived on the streets and in the alleyways. Most | :07:56. | :07:59. | |
people do not have much money but they value their way of life. This | :08:00. | :08:04. | |
woman from the ethnic Malay minority watches the world go by. She was | :08:05. | :08:09. | |
born in the same 2`room house which now shelters her large family. She | :08:10. | :08:13. | |
is unhappy, because it has been earmarked for demolition. | :08:14. | :08:19. | |
TRANSLATION: I want to go. I want to stay here. But many nearby houses | :08:20. | :08:26. | |
have already been demolished. After decades of war, the government says | :08:27. | :08:32. | |
it wants a Colombo that can rival Singapore and it intends to liberate | :08:33. | :08:36. | |
these lands for commercial purposes. In recent months, entire streets of | :08:37. | :08:39. | |
those traditional neighbourhoods have been flattened, resulting in | :08:40. | :08:44. | |
this. Luxury high`rise flats and hotels have come up, like these, | :08:45. | :08:48. | |
already mushrooming elsewhere in the city. Here in a suburb of a more | :08:49. | :08:57. | |
modest flat for people evicted from slave island, we meet one family | :08:58. | :09:02. | |
that was displaced some years ago. He says it is nice because their old | :09:03. | :09:06. | |
neighbours have also moved here but they received no payment for their | :09:07. | :09:09. | |
old house, only a small amount towards rent. Some human rights | :09:10. | :09:14. | |
campaigners say the people of slave island are being unwillingly forced | :09:15. | :09:19. | |
out with no consultation. Because the urban development authority is | :09:20. | :09:22. | |
run by the powerful Defence Ministry, people seem to fear | :09:23. | :09:26. | |
protesting. But some say the movement from houses to flats is a | :09:27. | :09:33. | |
natural one. People will move to that situation. It happened in | :09:34. | :09:36. | |
Vietnam, it happened in Singapore and in many other countries. It is a | :09:37. | :09:42. | |
normal process. In a positive move, one developed has promised to build | :09:43. | :09:47. | |
flats for the locals were their old houses were `` one developer. That | :09:48. | :09:53. | |
will help them keep something they treasure about slave island, its | :09:54. | :09:55. | |
centrality. Although its architectural heritage and unique | :09:56. | :09:59. | |
and sea are still passing into history. `` unique atmosphere are | :10:00. | :10:09. | |
still passing into history. Looking at the Asian markets, now. Of | :10:10. | :10:16. | |
course, as I mentioned, many investors are focusing on the | :10:17. | :10:21. | |
Japanese prime minister 's policies aimed at boosting growth there, | :10:22. | :10:30. | |
which will be unveiled later today. Thank you for watching. | :10:31. | :10:43. | |
An Egyptian court has sentenced three Al Jazeera journalists to | :10:44. | :10:45. | |
seven years in jail, sparking international outrage. | :10:46. | :10:54. | |
As Michael Schumacher continues his recovery, there are concerns his | :10:55. | :10:58. | |
medical records may have been stolen and offered for | :10:59. | :10:59. |