29/10/2013 World Business Report

teenager was shot dead by police. Those are the latest headlines. Time

for the latest money news. Here is the world business report. India's

Central Bank is expected to raise interest rates for the second

straight month in a bid to bring down what is the highest consumer

inflation and Asia. It sold nearly 30 million iPhones between July and

September but profits of Apple are still falling. We will find out why.

Welcome. And a moment, we will be live in Singapore for the latest in

the Asian markets. First, it is one of the most valuable tax companies

in the world. It is by market calculation, one of the most

powerful. Apple continued to be cut extremely profitable but not as much

as analysts were hoping for. The company ended its fiscal year with

its first annual earnings decline in 11 years. From London... To Tokyo to

``... People couldn't wait to get their hands on the newest additions

to the Apple family. This is the flagship store on fifth Ave. Judging

by the crowds, it you would figure that this company can do no wrong.

It has released its new product line, the first since the iPad which

was three years ago. In an event, Tim Cook unveiled a range of

products. Prime updated operating system to a wafer thin new iPad.

These were just small improvements to an already existing product.

People are getting anxious to see what will be the next big game

changer by Apple, whether it will be a TV, watch, or some unknown thing.

I think they will be onto something but it is a matter of when. For the

existing products, a pink what we will expect as performance

improvements. That is exactly what Apple has done. Despite a drop in

profits, iPhones continue to be its big`money maker, selling a record

33.8 million in the last few months. That is up by more than 25%. For all

of the knocks on them. When they come out, people stand in line and

buy them. Imagine what they could do with something like a watch or a

television. That is what they need to put out there. The next three

months will be crucial as the all`important holiday shopping

season looms. Apple is already warning that its future profits may

slide, making the expectation for something new just that much

greater. They had asked Formula One Bernie

Ecclestone is facing allegations that he undervalued the company when

he sold it to a private equity firm in 2005. It is the first in several

cases against them which relates to a bribery case in Germany. He has

been accused of bribing a German banker to engineer the sale of the

sport. The UK government will, on Tuesday,

publish a report into a controversial plan into HS2. It is

expected to justify the ?42.6 billion or near $70 billion cost of

the network. The estimated cost has risen from ?34.2 billion. It would

mean 14 years of route closures and longer journeys. Cyber crime is the

greatest global threat to organisations today according to

accountants Ernst and Young. 90% of companies are increasing security

but attacks continue to rise. They also warn an IT shortage is leaving

companies open to attack. The British Prime Minister David Cameron

is set to announce the UK will become the first non` Muslim country

to issue an Islamic on. The world as long economic Forum in London is

also due to discuss plans for a new Islamic index for the stock exchange

which is attempting to attract more investors. The US government is

expected to hand the Indian giant with the largest and aggression

fight ever after claims it illegally placed workers on visitor rather

than work visas across the US. The government is due to announce that

they in ten to find the company. Let's get an update on how the Asian

markets are doing this hour. We will cross over to our Singapore

correspondent, Rico Hizon. There is strong data out of Japan suggesting

that consumers that are doing some serious spending. Absolutely. They

are shopping. They are spending. That is basically a showing up in

the September consumer spending report which is basically due to a

couple of factors. People are purchasing things that they like

before sales stack hikes will shall be permitted next year. Overall, the

Japanese seem to be more confident about the economy. The 3.7% gain in

household spending was the strongest in six months, exceeding

expectations. Analysts are saying the data is proof that the economy

is continuing to get support from robust personal consumption which

could add 15 years of deflation or falling prices. The stronger labour

market is also driving India and the uptrend. It is suggesting that

Shinzo 's attempts are working. How markets across Asia reacting? A bit

lethargic. Regional stocks are basically tracking, developments in

the US rather than Japan's are better than expected. Spending

numbers... Investors are waiting on the sidelines for the result of the

US Central Bank's two`day meeting which is expected to announce they

will stay on their stimulus issues. Thank you. A piece of news just in.

India's Central Bank has raised its interest rates by 25 basis points.

That was expected. It is the second time the bank has done so in the

past two months. The reason? India is fighting rampant inflation. In

September, so consumer prices rose 9.84% on an annual basis. That is

the fastest pace in three months. That is due to soar inflation to

18.4% in September. It is the highest level since mid`2010. It was

driven up by a massive drop in onion prices. Inflation hasn't struck by a

decline in the rupee as will. It dropped the currency by 10% busier.

Fears that the US Federal Reserve will pull in its stimulus programme.

My colleague will speak to the head of the Reserve Bank of India,

Raghuran Rajan, later. You can catch that interview on Wednesday. Let's

get an update on the markets. Rico was giving us the background. Let's

have a look at the numbers. get an update on the markets. Rico

was giving us the background. We can see, Asian shares are wavering in

the recent ranges. The Nikkei is down. In Hong Kong we have got the

markets fairly flat. We have also seen the dollar hold off recently as

investors wait an outcome on the policy meeting at the US Federal

Reserve. It is expected to stay the course on its stimulus programme.

That is it from me. Goodbye. In the UK, for the first time,

victims of crime will be allowed to confront offenders directly in

courts in England and Wales. A new code published today will

automatically allow victims to personally addressed the judge and

the offender at the end of the criminal trial. The government says

it is designed to stop them feeling like an afterthought and the

criminal justice system. Catherine was murdered last year by

her boyfriend. He wanted to claim her life