Browse content similar to 06/08/2013. Check below for episodes and series from the same categories and more!
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Manchester. They have an unassailable lead in the series with | :00:03. | :00:13. | |
:00:13. | :00:22. | ||
two matches to go. Now for the latest business news. | :00:22. | :00:28. | |
Amazon boss Jeff Bezos enters the newspaper world for $250 million. | :00:28. | :00:34. | |
Washington Post becomes his personal trophy. New Zealand's government | :00:34. | :00:37. | |
steps up efforts to contain the fallout over the scare over | :00:37. | :00:47. | |
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contaminated products made by dairy industry giant Fonterra. Welcome to | :00:48. | :00:55. | |
the programme. In just a minute, we will take a | :00:55. | :00:58. | |
look at the challenges facing businessmen in Russia today, but | :00:58. | :01:04. | |
first, another newspaper has a new owner. The founder of online | :01:04. | :01:12. | |
retailer Amazon, Jeff Bezos, has Washington Post. For $250 million in | :01:12. | :01:15. | |
cash, the US billionaire businessman will personally take ownership of | :01:16. | :01:21. | |
the ailing newspaper. In a statement, he said he understood the | :01:21. | :01:25. | |
Washington Post's critical role in Washington and says its values will | :01:25. | :01:32. | |
not change. Jeff Bezos is a new media man buying | :01:32. | :01:38. | |
an old media company. The founder of Amazon has agreed to purchase the | :01:38. | :01:41. | |
Washington Post and its other printer properties in a personal | :01:41. | :01:47. | |
capacity. He said he did not have a plan yet but in a statement, he | :01:47. | :01:51. | |
warned that there would be change, adding that the internet is | :01:51. | :01:56. | |
transforming almost every element of the news business, shortening news | :01:56. | :02:00. | |
cycles, eroding long reliable revenue sources and enabling new | :02:00. | :02:03. | |
kind of competition, some of which there are little or no newsgathering | :02:03. | :02:10. | |
costs. The Washington Post has made its name covering the Watergate | :02:10. | :02:15. | |
scandal. But like the rest of the industry, it has struggled. The | :02:15. | :02:22. | |
internet has heard advertising declined. He is a very analytical | :02:22. | :02:29. | |
person and I'm sure he is looking over the numbers. He reached out to | :02:29. | :02:35. | |
me less than one month ago. We met at a conference face-to-face twice. | :02:35. | :02:42. | |
We spent one hour together. He asked for time to study those numbers. We | :02:42. | :02:47. | |
then spent another two hours together. At the end of that, he | :02:47. | :02:50. | |
said he thought he wanted to go ahead that he and his people needed | :02:50. | :02:56. | |
time to look over the business and understand it more thoroughly. And | :02:56. | :03:01. | |
then he did that and we quickly reached a deal. This is the second | :03:01. | :03:06. | |
sale of a major US newspaper in as many days. Over the weekend, the | :03:06. | :03:13. | |
Boston Globe was sold to the owner of the baseball team, the Boston Red | :03:13. | :03:20. | |
this news. After all, Jeff Bezos is a Silicon Valley pioneer, whose | :03:20. | :03:23. | |
business has helped disrupt the traditional book publishing | :03:23. | :03:28. | |
industry. Now, he is using his know-how to help rescue an old media | :03:28. | :03:35. | |
newspaper. New Zealand's government has stepped up efforts to contain | :03:35. | :03:39. | |
the fallout from a scare over contaminated products made by dairy | :03:39. | :03:44. | |
industry giant Fonterra. Officials have been sent to the facilities in | :03:44. | :03:47. | |
New Zealand and Australia to make sure that the flow of information | :03:47. | :03:53. | |
continues. On Saturday, Fonterra said batches of product including | :03:53. | :03:59. | |
infant formula contained a raw ingredient tainted with bacteria | :03:59. | :04:03. | |
that can cause botulism. The New Zealand Prime Minister has promised | :04:03. | :04:13. | |
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a forensic investigation. What more information do we have on this? | :04:14. | :04:21. | |
this point, we have been speaking with brand analysts and experts, who | :04:21. | :04:25. | |
say that New Zealand and Fonterra are doing whatever they can to | :04:25. | :04:31. | |
contain this botulism scare. Earlier, I spoke with one of them | :04:31. | :04:35. | |
and he said that Fonterra's response to disgrace as has been impressive. | :04:35. | :04:40. | |
Earlier, I also spoke with the New Zealand Trade Minister about the | :04:40. | :04:46. | |
impact this ban will have. He says they are hoping it will not last | :04:46. | :04:53. | |
more than a couple of weeks. There is not a precise timeframe. We are | :04:53. | :04:58. | |
hoping it will be a matter of a week or so but we cannot be precise on | :04:58. | :05:02. | |
that. We can only work in cooperation with the importing | :05:02. | :05:06. | |
authorities, giving them all the information as it comes to hand, and | :05:06. | :05:12. | |
then it will be a matter for them, not us. But I have to say that the | :05:12. | :05:16. | |
Chinese authorities are approaching this in a responsible and | :05:16. | :05:21. | |
professional manner and I am hopeful it will be a matter of weeks rather | :05:21. | :05:26. | |
than a longer period of time. not just China but several other | :05:26. | :05:29. | |
countries that have basically halted importation of dairy products from | :05:29. | :05:35. | |
Fonterra. Basically, they are doing whatever they can to put this behind | :05:35. | :05:43. | |
them sooner rather than later. an impressive reputation as an | :05:43. | :05:47. | |
exporter of high-quality environmentally friendly, ethical | :05:47. | :05:52. | |
products and so on. What sort of damage will be is due to the New | :05:52. | :06:02. | |
:06:02. | :06:03. | ||
Zealand economy? Dairy exports account for approximately 25% of New | :06:03. | :06:06. | |
Zealand's export earnings and the dairy industry contributes to about | :06:06. | :06:13. | |
7% of the country's GDP. Fonterra is the biggest company in New Zealand | :06:13. | :06:20. | |
and is responsible for nearly 90% of According to economist, if they | :06:20. | :06:25. | |
address this issue very quickly, this will have a very minimal impact | :06:25. | :06:31. | |
on the New Zealand economy. They have been handling this in a very | :06:31. | :06:36. | |
transparent manner and have basically been held accountable for | :06:36. | :06:40. | |
all of the problems that have been happening. With this in mind and | :06:40. | :06:44. | |
with this kind of strategy, economists said the impact will be | :06:44. | :06:48. | |
minimal on the economy of New Zealand this year and next year. | :06:48. | :06:57. | |
Thank you. Sony's board has reject that calls | :06:57. | :07:00. | |
to sell off part of its entertainment unit in an unusual | :07:00. | :07:07. | |
public offering. The company said the Lord's decision was unanimous, | :07:07. | :07:10. | |
and that is despite calls from billionaire's investor Daniel Loeb | :07:10. | :07:15. | |
to sell a portion of the struggling entertainment unit. A former manager | :07:15. | :07:19. | |
at the Royal Bank of Scotland in person dated a bond salesman at the | :07:19. | :07:27. | |
bank of the he lost his job in its property services division -- | :07:27. | :07:36. | |
impersonated. Royal Bank of Scotland says that KK Ho had not performed | :07:36. | :07:39. | |
any regulated activity and that appropriate action was taken as soon | :07:39. | :07:44. | |
as the impostor was detected. The central bank of Australia has cut | :07:44. | :07:51. | |
its key benchmark interest rate by one quarter of a percent to 2.5%. | :07:51. | :07:55. | |
This cut was widely expected and reflect how the country's economy is | :07:55. | :07:59. | |
struggling on the back of a slowdown in China and a drop-off on the | :07:59. | :08:04. | |
global commodity price. More confirmation that the British | :08:04. | :08:08. | |
economy is rebounding. Retail sales have their fastest July growth in | :08:08. | :08:15. | |
seven years. That is courtesy of the heatwave, according to the British | :08:15. | :08:20. | |
Retail Consortium. They say that sales were up by 2.2% as consumers | :08:20. | :08:24. | |
rushed out to buy swimwear, sandals, sun cream, beer and | :08:24. | :08:30. | |
barbecue food. A feelgood factor driven by a series of sporting | :08:30. | :08:35. | |
victories including Andy Murray's when at Wimbledon and the arrival of | :08:35. | :08:40. | |
the royal baby will also help lift those retail numbers. Now for the | :08:40. | :08:50. | |
:08:50. | :09:21. |