Browse content similar to 08/05/2013. Check below for episodes and series from the same categories and more!
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headlines from BBC World News. Now for the latest financial news and | :00:01. | :00:11. | |
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World Business Report. The great solar panel squeeze - the European | :00:19. | :00:22. | |
Union gets ready to slap import duties on solar panels made in | :00:23. | :00:27. | |
China. But is it too little too late to save European manufacturers. | :00:27. | :00:30. | |
And Toyota's poised to announce its profits have quadrupled thanks to | :00:30. | :00:40. | |
:00:40. | :00:40. | ||
strong sales in the US and a weak Japanese yen. Welcome to World | :00:40. | :00:45. | |
Business Report. Also in the program the luxury electric car | :00:45. | :00:49. | |
that can match the speed of a Ferrari but at a fraction of the | :00:49. | :00:55. | |
cost to run. We'll take a test drive. The EU is poised to slap | :00:55. | :01:00. | |
heavy import duties on solar panel equipment made in China. This could | :01:00. | :01:06. | |
turn into one of the biggest trade rows of recent years. Trade | :01:06. | :01:09. | |
Commissioner Karel De Gucht will tell his fellow EU commissioners | :01:09. | :01:12. | |
that Brussels should levy the tariffs to guard against Chinese | :01:12. | :01:15. | |
production that quadrupled between 2009 and 2011 - it's now greater | :01:15. | :01:20. | |
than the entire global demand. Chinese companies have captured | :01:20. | :01:23. | |
more than 80% of the European market forcing dozens of European | :01:23. | :01:31. | |
firms to close down as a result. With me now is Kash Burchett, | :01:31. | :01:41. | |
Europe analyst at IHS Energy. With talk about these move by | :01:41. | :01:45. | |
commissioners in Brussels to protect the European manufacturers, | :01:45. | :01:51. | |
is it too late? It is for some of these firms which have been forced | :01:51. | :01:56. | |
into insolvency. The nature of the industry, there is a feast and | :01:56. | :02:01. | |
famine cycle tour. When governments announced they were going to | :02:01. | :02:07. | |
subsidise a Solar industry, there was a growth and then only months. | :02:07. | :02:13. | |
The Germans were struggling against the Chinese competition. Many of | :02:13. | :02:18. | |
the Chinese firms, according to Washington and Brussels, have been | :02:18. | :02:28. | |
able to sustain their coffers because of the easy loans. But can | :02:28. | :02:31. | |
we keep the company is going forever? The horse has bolted | :02:31. | :02:36. | |
already. The Chinese government are saying that there will be | :02:36. | :02:42. | |
consolidation not because of any action by the EU for the WTO, but | :02:42. | :02:46. | |
it is unsustainable to keep cropping up these firms on a life- | :02:46. | :02:52. | |
support. From the point of view of the EU, if they agreed to slap | :02:52. | :02:58. | |
tariffs on the Chinese, what impact is that going to have? It is good | :02:58. | :03:04. | |
news for the manufacturers of solar panels in Germany. Less for the | :03:04. | :03:08. | |
installers because they will be paying higher prices. Looking to | :03:08. | :03:13. | |
the future, it is difficult to see how the Chinese will react. The | :03:13. | :03:19. | |
Green lobby in Germany, now that Angela Merkel is willing to drive | :03:19. | :03:24. | |
these policy fruit - China is an important trading partner but they | :03:24. | :03:29. | |
are willing to antagonise them because of the power of the Green | :03:29. | :03:34. | |
lobby due to the elections in September. China needs Europe as | :03:34. | :03:39. | |
much as Europe needs China. With the European economy in a difficult | :03:40. | :03:47. | |
position, many are looking to China? That is for large produce. A | :03:47. | :03:53. | |
lot of European governments are looking for the Green collar said. | :03:53. | :03:58. | |
Finding an engine for growth and jobs. They have different | :03:58. | :04:03. | |
challenges and balances. Thank you for your time. We will keep an eye | :04:03. | :04:09. | |
on the story as it develops today. It is a hot topic for discussion in | :04:09. | :04:13. | |
Brussels. It's a tough road for makers of electric cars in the US. | :04:13. | :04:16. | |
Just this week, an American manufacturer filed for bankruptcy | :04:16. | :04:19. | |
and analysts say others are on the brink. Consumers are interested but | :04:19. | :04:23. | |
not quite willing to give up the ease of cars that run on gasoline. | :04:23. | :04:27. | |
But one company stands out - Tesla is a maker of sporty battery | :04:27. | :04:29. | |
operated vehicles and is racing past its competitors. Company | :04:29. | :04:33. | |
shares are up 50% hitting a record high this week and when it reports | :04:33. | :04:41. | |
it's earnings today Tesla is expected to make its first profit. | :04:41. | :04:45. | |
-- its. Samira Hussain hit the road to find out the secret of its | :04:45. | :04:53. | |
success. I'm about to step into a car that is unlike most others on | :04:53. | :04:58. | |
the road. You do not hear anything when I start it. It is that silence | :04:58. | :05:07. | |
that makes that Chi Uni. And 80,000 dollar Electric on a Mobile. -- | :05:07. | :05:14. | |
that makes this can't unique. nice to drive. You're not | :05:14. | :05:19. | |
compromising on that, you have a safe and could come but at the same | :05:19. | :05:26. | |
time the EU are doing your part in saving the earth. -- you are doing | :05:26. | :05:34. | |
your part. 4750 models have been sold, exceeding their forecasts for | :05:34. | :05:39. | |
the quarter. By selling more of these cars, Tesla has been able to | :05:39. | :05:45. | |
pull ahead of other electric car manufacturers. While Tesla may be | :05:45. | :05:50. | |
able to turn a profit, the road ahead is still bumpy for electric | :05:50. | :05:55. | |
car manufacturers. They are interested but they're not willing | :05:55. | :05:59. | |
to make the purchase quite yet until the technology proves itself | :05:59. | :06:05. | |
as being able to charge quickly and go further. Right now, gasoline is | :06:05. | :06:13. | |
so easy. Here, you need to stop for an hour or an hour-and-a-half. Once | :06:13. | :06:20. | |
that comes down there will be more viable. For buyers, hybrids - cars | :06:20. | :06:24. | |
there is both gasoline and electricity - are often a better | :06:24. | :06:30. | |
and more practical option. In the US, one million hybrid vehicles | :06:30. | :06:36. | |
have been sold. Less than 100,000 pure electric. That is a huge | :06:36. | :06:40. | |
difference. By when unearth regulations are implemented, it | :06:40. | :06:46. | |
will grow. But the bigger opportunity is the hybrid vehicle. | :06:46. | :06:53. | |
Hybrids may be a happy medium but not for all. This guy is just | :06:53. | :06:59. | |
beautiful -- this car is just beautiful. They are hoping more | :06:59. | :07:06. | |
people will think so also. Tell us what you think. Later today the | :07:07. | :07:09. | |
world's best-selling carmaker, Toyota, is expected to post | :07:09. | :07:12. | |
operating profits nearly four times as high as last year. Among Japan's | :07:12. | :07:16. | |
big 3 automakers - Toyota, Nissan and Honda - analysts see Toyota as | :07:16. | :07:19. | |
the most likely to benefit from a weakening yen because it has the | :07:19. | :07:23. | |
highest ratio of production in Japan, more than half of which is | :07:23. | :07:33. | |
:07:33. | :07:37. | ||
exported. At last some good news for Toyota. Lately it has been a | :07:37. | :07:44. | |
flurry of difficult headlines for them. They have had several years | :07:44. | :07:49. | |
of difficult headlines, starting in 2008 when they had record profits | :07:49. | :07:54. | |
for so many years then there was a collapse in profits. Then they had | :07:54. | :08:01. | |
a scandal or a real problem with technical faults in the US and a | :08:01. | :08:05. | |
massive recall. They have now come back from that quite strongly. We | :08:05. | :08:15. | |
:08:15. | :08:17. | ||
are expecting to see these figures of between $13 billion in operating | :08:17. | :08:21. | |
profits for 2000 and well which is double what people were expecting. | :08:21. | :08:26. | |
A really strong performance -- 2012. There is up on the back of two | :08:26. | :08:32. | |
things - the weakening of the yen which has increased their profit | :08:32. | :08:40. | |
comeback of the US market an leap in the Toyota sales - up 27% last | :08:40. | :08:46. | |
year. It is important in seeing that comeback in the US, the timing | :08:46. | :08:51. | |
of it, considering it has had at half time in China another import | :08:51. | :08:56. | |
market? It has had a very tough time in China particularly at the | :08:56. | :09:03. | |
end of last year when there was a lot of Japanese violence in China | :09:03. | :09:06. | |
over eight territorial and political dispute which had at | :09:06. | :09:12. | |
knock-on effect on Japanese Prime us. Toyota or fell dramatically in | :09:12. | :09:16. | |
the last quarter of last year. Those have started to come back but | :09:16. | :09:22. | |
slowly. If you look at the last two months, much sales in China and | :09:22. | :09:30. | |
down 11%, April sales up 6%. We are seeing it slowly, slowly coming | :09:30. | :09:35. | |
back. Japanese manufacturers like Toyota are still suffering badly in | :09:35. | :09:42. | |
the Chinese market. We was big you again when we get the results. We | :09:42. | :09:48. | |
are seeing lots of record levels hit on significant areas. For | :09:48. | :09:54. | |
example, Japan is well above. The yen is a little bit stronger | :09:54. | :09:59. | |
compared to this time yesterday it. The Dow closed about 15,000 | :09:59. | :10:05. | |
yesterday. You can see the market's continuing to rally. A story | :10:05. | :10:10. | |
boosting things is that China exports rose much more than | :10:10. | :10:15. |