Browse content similar to 04/07/2014. Check below for episodes and series from the same categories and more!
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identified the location of shale bearing rock. Time for the latest | :00:00. | :00:00. | |
business news live from Singapore. Asian stocks rise after a strong | :00:00. | :00:21. | |
jobs report spurs a record rally on Wall Street. And, from living room | :00:22. | :00:27. | |
to boardroom, research is claimed playing videogames can help improve | :00:28. | :00:29. | |
your business skills. Welcome to this Friday edition of | :00:30. | :00:43. | |
Asia Business Report. We are seeing positive gains in Asian stock | :00:44. | :00:45. | |
markets this morning, following encouraging news from the US jobs | :00:46. | :00:52. | |
market. Japan, Korea, Australia, they are all flat to higher after | :00:53. | :00:59. | |
the US reports that its unemployment rate fell to a six`year low of 6.1%. | :01:00. | :01:05. | |
It spurred US stocks to new highs, with the Dow Jones industrial | :01:06. | :01:08. | |
average breaking through the key 17,000 point level for the first | :01:09. | :01:12. | |
time ever. But if the rally sustainable? Our reporter was in New | :01:13. | :01:22. | |
York. Not everyone expected this kind of a | :01:23. | :01:29. | |
jump. Most estimates were around 200,000 jobs added to the economy, | :01:30. | :01:31. | |
and many didn't think the unemployment rate would change much. | :01:32. | :01:36. | |
This comes as really good news, and we have been looking for the Dow | :01:37. | :01:43. | |
Jones to go up about 17,000 for a couple of days, but it was the very | :01:44. | :01:47. | |
positive jobs report that pushed it up into that territory. Despite what | :01:48. | :01:52. | |
we are seeing in the economy, a lot of jobs have been created. A lot of | :01:53. | :01:57. | |
the jobs that are being created are in fact part`time jobs, and there is | :01:58. | :02:00. | |
still the problem of what Janet Yellen, the chairperson of the | :02:01. | :02:03. | |
Federal Reserve, called the shadow unemployment. That is people who | :02:04. | :02:10. | |
aren't looking for work at all. They have dropped out of even searching | :02:11. | :02:14. | |
for a job, and that is a particular problem here in the US. Although we | :02:15. | :02:17. | |
are seeing a lot more people that are being employed, we are not | :02:18. | :02:23. | |
getting the kinds of jobs that they want. | :02:24. | :02:27. | |
Earlier, I asked an economist, Tony Nash, for his take on the data. I | :02:28. | :02:32. | |
think it is more of a cause for relief than celebration. It is very | :02:33. | :02:36. | |
good news, and hopefully the start of a good trend in the US economy. | :02:37. | :02:41. | |
It is a cause for relief, but we know that the first`quarter GDP | :02:42. | :02:45. | |
contracted 3%, so there is a real concern, particularly here in Asia, | :02:46. | :02:50. | |
with a lot of investors watching the US and manufacture is counting on US | :02:51. | :02:56. | |
markets, so to what extent does the US continue to influence what | :02:57. | :02:59. | |
happens here? It still does in a big way. Exports from Asia still go to | :03:00. | :03:07. | |
the US as a large share of the export market. Many companies | :03:08. | :03:14. | |
contribute a lot in terms of direct investment, and things for the large | :03:15. | :03:18. | |
economies in Asia. There is a huge overlap between the benefits for | :03:19. | :03:24. | |
those countries. Unfortunately, but what we are seeing is the rate of | :03:25. | :03:31. | |
growth in countries like China to the US declining, while it grows | :03:32. | :03:35. | |
almost 10% in the other direction. It was something like 14% last year, | :03:36. | :03:41. | |
it is 6% this year. Those rates of growth of exports from Japan, China | :03:42. | :03:45. | |
and other places are slowing this year. Tony Nash from Delta | :03:46. | :03:50. | |
economics. In other business news, China and South Korea's presidents | :03:51. | :03:53. | |
have agreed to sign a free`trade deal by the end of year. They also | :03:54. | :03:58. | |
plan to allow direct trading of their currencies in order to deepen | :03:59. | :04:01. | |
economic ties. The announcement came during a trip by the Chinese leader, | :04:02. | :04:06. | |
Xi Jinping, to South Korea, which ends today. Of course electronics | :04:07. | :04:25. | |
may stop producing LCD TVs in Europe `` Aquos. Sharp is expecting to | :04:26. | :04:31. | |
focus on Asian and American markets. They recently posted their annual | :04:32. | :04:35. | |
first profit in three years. Samsung says it is going to stop making | :04:36. | :04:43. | |
plasma TVs. Panasonic, Hitachi, Sony and others have already given up on | :04:44. | :04:47. | |
them, which are bigger than LCD screens and use more electricity. | :04:48. | :04:51. | |
Samsung says it will concentrate on making curved and ultra` | :04:52. | :04:58. | |
high`definition TVs. Next week, air India joined a coalition of more | :04:59. | :05:01. | |
than two dozen carriers around the world, Star Alliance. It is a big | :05:02. | :05:08. | |
move, given it was previously turned down for not being scratch. It | :05:09. | :05:14. | |
continues to deal with huge debts and a history of labour unrest. It | :05:15. | :05:25. | |
also faces a rising number of competitive rivals. The importance | :05:26. | :05:28. | |
of the national carrier is that it provides connectivity that others | :05:29. | :05:31. | |
don't. Look at the biggest airline of this country, they provide | :05:32. | :05:35. | |
connectivity to about 30 destinations in the country. Air | :05:36. | :05:41. | |
India provides connectivity to 63 places in the country. If there was | :05:42. | :05:45. | |
no national character, who would connect these places? You are the | :05:46. | :05:49. | |
only country where the government has pumped in so much money to value | :05:50. | :05:55. | |
out. Critics have asked the question repeatedly that you have got a lot | :05:56. | :05:58. | |
of taxpayer money, and why should air India be entitled to that? What | :05:59. | :06:06. | |
is your reaction? All owners of companies pump in money, somebody's | :06:07. | :06:12. | |
money has to go into a company for it to run successfully. In this | :06:13. | :06:15. | |
case, it is government money that is being pumped in, after all the | :06:16. | :06:20. | |
transport companies. Whether it is a bit state transport companies, look | :06:21. | :06:25. | |
at the power companies which are run by the government. It is taxpayer | :06:26. | :06:29. | |
money ultimately that goes into it. Too much is made of this in the case | :06:30. | :06:34. | |
of air India. What is your turnaround plan for air India? Had | :06:35. | :06:42. | |
you plan to restructure the company? Costs are the most important thing. | :06:43. | :06:46. | |
If the company does not cut costs we cannot keep going infinitely. We | :06:47. | :06:50. | |
have been trying to do that, and we have made substantial savings as far | :06:51. | :06:55. | |
as employee costs are concerned. Our productivity has gone up 29% in the | :06:56. | :06:59. | |
last three years. The second important thing is the induction of | :07:00. | :07:02. | |
the 787, which will cut down on fuel bills. That should make a difference | :07:03. | :07:08. | |
to our economics. The third important thing is basically that we | :07:09. | :07:14. | |
can see that a network is rational. You can catch more of that interview | :07:15. | :07:18. | |
with the managing director of air India this weekend. For those of you | :07:19. | :07:23. | |
out there who love plain computer games, you will are probably sick | :07:24. | :07:27. | |
and tired of people telling you you are wasting your time. Researchers | :07:28. | :07:32. | |
in Singapore have found that some games could help you develop the | :07:33. | :07:35. | |
skills you need for a successful career. | :07:36. | :07:41. | |
Problem`solving, planning and decision`making, these are highly | :07:42. | :07:46. | |
sought`after skills in any boardroom. You can learn these by | :07:47. | :07:51. | |
going to business school or climbing away up the ladder. But a new study | :07:52. | :07:57. | |
done here at the technological University suggests playing | :07:58. | :07:58. | |
videogames can develop these skills as well. With the now as Michael | :07:59. | :08:04. | |
Pattison, the senior author of the study. You have highlighted this | :08:05. | :08:10. | |
game. How does this develop your mental abilities? Unlike most games, | :08:11. | :08:17. | |
in this game, before you start you need to plan what you are doing | :08:18. | :08:22. | |
next. Most games, give fire when you see an enemy, but in this game I | :08:23. | :08:25. | |
have to plan, OK, what is the sequence I can do in order to get | :08:26. | :08:29. | |
the candy into the creature's now. In the business world we often have | :08:30. | :08:33. | |
a steel where we plan what we will say next. The situation may change, | :08:34. | :08:39. | |
we need to be more reactive to situations. This is a game in which | :08:40. | :08:45. | |
a strategy that worked in the previous level won't work in the | :08:46. | :08:48. | |
next level. How relevant is this when there are not the same | :08:49. | :08:58. | |
pressures you face in a boardroom? One element of this game is that if | :08:59. | :09:01. | |
you keep trying you will be successful. That can work in | :09:02. | :09:05. | |
business. If you are designing a new product, and the manufacturing | :09:06. | :09:08. | |
didn't work the first time, you can try a different approach. Sometimes | :09:09. | :09:12. | |
it may seem stressful and you might not think you can get through, but | :09:13. | :09:15. | |
if you keep persisting you will survive, and if you don't succeed | :09:16. | :09:19. | |
you learn how to deal with failure, because in the game many times you | :09:20. | :09:25. | |
fail. Like in a boardroom, your pitch may not be successful but you | :09:26. | :09:28. | |
can find a different boardroom, so it teaches mental toughness. The bad | :09:29. | :09:33. | |
news for gamers is that not all videogames will help you develop | :09:34. | :09:37. | |
these Pacific skills. The important thing is to play complex puzzle | :09:38. | :09:44. | |
games if you want to think more creatively on your feet `` specific | :09:45. | :09:46. | |
skills. As cash transactions come more | :09:47. | :09:55. | |
common, large cash amounts will be harder to find. This is a specimen | :09:56. | :10:03. | |
of Singapore's $10,000 note. It will be taken off the printing presses | :10:04. | :10:06. | |
from the 1st of October, in a move to lower with the risk of money | :10:07. | :10:11. | |
laundering. In the US, the biggest note currently printed is the $100 | :10:12. | :10:17. | |
bill, while in the UK the highest denomination is only ?50, worth 85 | :10:18. | :10:21. | |
US dollars. In Switzerland, the biggest banknote you will find his | :10:22. | :10:26. | |
1000 Swiss francs, which is worth about $1125. Thank you for watching. | :10:27. | :10:40. | |
A bridge has collapsed in the Brazilian city of Belo Horizonte, | :10:41. | :10:44. | |
killing at least two | :10:45. | :10:45. |