Browse content similar to 03/06/2013. Check below for episodes and series from the same categories and more!
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home in the Northern territory. Those are the latest headlines from | :00:02. | :00:12. | |
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BBC World News. Now for the latest Signs of a pick up for the Chinese | :00:22. | :00:27. | |
economy, will this year be the rebound from a disappointing 2012? | :00:27. | :00:32. | |
And the struggle for control of del goes to the final round. Wilshere | :00:32. | :00:39. | |
holders allow the country's founder to buy the computer maker back? -- | :00:39. | :00:43. | |
will shareholders. You're with World Business Report. I'm Sally | :00:43. | :00:48. | |
Bundock. Also, you have heard of the Silver surfer, now make way for | :00:48. | :00:53. | |
the Salvo entrepreneur. We will explain. In a positive sign for the | :00:53. | :00:57. | |
global economy the latest report on China shows the slowdown may have | :00:57. | :01:02. | |
bottomed out. An official measure of manufacturing activity shows | :01:02. | :01:06. | |
strong expansion in the month of May. Looking at the figures, | :01:06. | :01:10. | |
starting from their early 2012. You can see that at the beginning of | :01:10. | :01:14. | |
that year there was a sharp increase, then there was a big | :01:14. | :01:20. | |
swift drop off. This white line represents the number 50, anything | :01:20. | :01:24. | |
below that represents a contraction within factories. As the year | :01:24. | :01:27. | |
progresses, and as we go to the month of May, it seems to be | :01:27. | :01:31. | |
getting better. This is a very closely watched way of measuring | :01:32. | :01:36. | |
the economy by economists. And there was, as you see, quite a bit | :01:36. | :01:41. | |
of a downturn. But since then things have improved. We can speak | :01:41. | :01:45. | |
to John Sudworth in Shanghai to get more sense from all of this. Nice | :01:45. | :01:50. | |
to see you. Only last week we had the IMF downgrading its forecasts | :01:50. | :01:57. | |
for China. This is better news? Are things in proving? It will | :01:57. | :02:04. | |
certainly be welcomed. The official data is taken note of. But what's | :02:04. | :02:09. | |
interesting is that a widely followed private survey, basically | :02:09. | :02:14. | |
the same kind of survey Baird carried out by HSBC rather than | :02:14. | :02:18. | |
official Chinese government statisticians, shows the opposite - | :02:18. | :02:23. | |
- but carried out. It has found factory output is falling. The | :02:23. | :02:33. | |
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index stood at 49.2, for the month It shows a contraction rather than | :02:40. | :02:45. | |
an expansion. The HSBC survey is based more on private sector small | :02:45. | :02:50. | |
companies rather than the big state owned companies. For that reason | :02:50. | :02:54. | |
some people suggested could be a better barometer for picking up the | :02:54. | :02:59. | |
subtle shifts. If the HSBC findings rather than the government findings | :02:59. | :03:03. | |
are correct, of course it's very gloomy news. We're none the wiser | :03:03. | :03:10. | |
as ever. But wide this this economic data so closely watched? | :03:10. | :03:16. | |
It really does matter -- why is. The assumption now is that China is | :03:16. | :03:20. | |
in the process of a major shift. Last year Crowe was 7.8%, the | :03:20. | :03:26. | |
lowest in more than a decade -- growth. Most people are agreed that | :03:26. | :03:30. | |
the year's top bumper at double- digit growth argon. Policy makers | :03:30. | :03:37. | |
are talking about 7% a year -- the years of -- are gone. It really | :03:37. | :03:42. | |
matters for China. It is probably about the minimum level it needs to | :03:42. | :03:45. | |
keep the economy motoring along, to provide the jobs and the increase | :03:45. | :03:50. | |
and wealth for the countryside. Tens of millions of people still | :03:50. | :03:54. | |
leaving the countryside for the cities. If it goes below 7% it | :03:54. | :04:00. | |
could present China with some real political problems. It is a | :04:00. | :04:05. | |
question then on of legitimacy. It really doesn't matter. No-one is | :04:05. | :04:09. | |
suggesting that as a result of one HSBC surveyed it's all going to go | :04:09. | :04:15. | |
crashing down, but it shows that this economy is facing problems as | :04:15. | :04:22. | |
it enters a new reality. Let's move on to what's happening in the | :04:22. | :04:27. | |
corporate world in the US. Rival factions are trying to gain control | :04:27. | :04:30. | |
of the computer maker Dell Computers, and the struggle will | :04:30. | :04:34. | |
enter a new phase over the next few weeks. Michael Dell wants to buy | :04:34. | :04:39. | |
back the company he founded as a student in 1984. A number of | :04:39. | :04:43. | |
shareholders who oppose his offer say it undervalues the company. | :04:43. | :04:47. | |
Both sides can now lobby shareholders directly, and are | :04:47. | :04:57. | |
:04:57. | :04:57. | ||
likely to do so until the vote over Michael Dell is one step closer to | :04:57. | :05:01. | |
transforming his ailing computer making business into a full service | :05:01. | :05:06. | |
IT company, or even possibly something more. Dell Computers's | :05:06. | :05:11. | |
board of directors say the takeover bid by the founder and CEO is the | :05:11. | :05:21. | |
But not so fast. Michael Dell's takeover it is too low at $24.4 | :05:21. | :05:25. | |
million, some say. Other shareholders are being told to vote | :05:25. | :05:30. | |
against the deal, and another of her is being put forward, keeping | :05:30. | :05:38. | |
the company a public be traded one. -- offer. It is going to be a tough | :05:38. | :05:41. | |
sell. Some of the long-term stockholders have already said they | :05:41. | :05:46. | |
are against it. What we have seen in some recent deals is that | :05:46. | :05:50. | |
shareholders, especially shareholders against deals, really | :05:50. | :05:54. | |
don't show their hand until the last moment. On one hand while the | :05:54. | :05:59. | |
proxy is now out and you can go and solicit votes next week, I think | :05:59. | :06:03. | |
the last week, the last two weeks, coming up to the boat, that's where | :06:03. | :06:07. | |
all the action is going to happen. -- the vote. Shareholders will cast | :06:08. | :06:13. | |
their votes on July 18th. Until then Michael Dell and Carl icon | :06:13. | :06:18. | |
will be lobbying hard for what they believe is the best deal for the | :06:18. | :06:22. | |
slumbering PC maker. European governments are trying to spur | :06:22. | :06:26. | |
entrepreneurial activity, hoping that will help tackle the region's | :06:26. | :06:30. | |
high unemployment and sluggish growth. According to United States | :06:30. | :06:35. | |
research, the fastest-growing age group starting companies is between | :06:36. | :06:41. | |
50-64. Could still wear hair the silver lining in Europe's economics | :06:41. | :06:47. | |
are there? -- silver-haired. The word entrepreneur these days tends | :06:47. | :06:53. | |
to conjure up a image of someone in their early 20s running a software | :06:53. | :06:59. | |
start-up and selling it for millions. But the average age of | :07:00. | :07:04. | |
start up starters in America is over 40. But what about for Europe | :07:04. | :07:08. | |
where economies are finding it tough to return to growth? Could | :07:08. | :07:13. | |
older entrepreneurs be the answer? If you're an old entrepreneur, is | :07:13. | :07:18. | |
it easier or more difficult to start a business? I have come up | :07:18. | :07:23. | |
here to Exact Logistics to ask the entrepreneur who started his | :07:23. | :07:31. | |
company. Exact six Logistics was started because I was made | :07:32. | :07:36. | |
redundant and we have the chance to make a small business on our own. I | :07:36. | :07:42. | |
didn't want to work for a company again that wasn't my own. I was 51 | :07:42. | :07:46. | |
when I started. It makes it harder, you don't have the same level of | :07:46. | :07:51. | |
energy perhaps, but you have got a lot more experience. Bringing all | :07:51. | :07:54. | |
that experience together definitely made this a more successful | :07:54. | :08:02. | |
business. This is a business in Coventry, started by Tom in 2008. | :08:02. | :08:07. | |
He did it precisely because he was an older entrepreneur, and he had | :08:08. | :08:12. | |
commitments... a family and a mortgage. Tom was a properly | :08:12. | :08:17. | |
developer who had previously worked in the car industry. -- property. | :08:17. | :08:21. | |
When the bottom fell out of the mortgage market he saw a niche | :08:21. | :08:29. | |
selling rubber to make waterproof roofs on homes. There are more | :08:29. | :08:32. | |
entrepreneurs in this country that have been born out of hard times | :08:32. | :08:37. | |
than good times, necessity drives the change in what we do. As a | :08:37. | :08:42. | |
slightly although entrepreneur who has had the life experience, it is | :08:42. | :08:47. | |
easier for me to see the pitfalls - - although entrepreneur. | :08:47. | :08:51. | |
countries looking to jump-start their economies, it could mean that | :08:51. | :08:56. | |
older more risk aware entrepreneurs provide a more stable return to | :08:56. | :09:06. | |
:09:06. | :09:10. | ||
-- a case brought up against Apple by the justice department begins | :09:10. | :09:14. | |
today. They conspired against the publishers to raise the price of | :09:14. | :09:19. | |
electronic books, it is claimed. Apple says the Government's case is | :09:19. | :09:26. | |
unfounded. Japan Airlines says it halted a scheduled flight of a | :09:26. | :09:31. | |
Boeing Dreamliner on Sunday, just a day after its fleet of Dreamliners | :09:31. | :09:34. | |
resume full operations. Engineers were concerned about a faulty | :09:35. | :09:38. | |
sensor in one of the modified batteries, but it turned out to be | :09:38. | :09:42. | |
a very minor problem. It was grounded for four months due to | :09:42. | :09:48. | |
battery problems. So the markets today were kind of mixed. We are | :09:48. | :09:53. | |
seeing quite heavy losses again in Japan as you can see. Hong Kong up | :09:53. | :09:58. |