Browse content similar to 05/11/2013. Check below for episodes and series from the same categories and more!
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Aires. The files contained transcripts of all meetings held by | :00:00. | :00:08. | |
the military to enter. `` military junta. Those are the latest | :00:09. | :00:11. | |
headlines from BBC World News. Now for the latest financial news | :00:12. | :00:14. | |
with World Business Report. We deserve to live not just exist ` | :00:15. | :00:19. | |
we look ahead to a landmark vote in the US to raise the minimum wage. | :00:20. | :00:25. | |
Next stop Mars ` with India set to blast off, we will look at the cost | :00:26. | :00:28. | |
of entering the international space race. | :00:29. | :00:37. | |
Welcome to World Business Report. I'm Sally Bundock. Also in the | :00:38. | :00:40. | |
programme ` Nissan shares plunge in Tokyo as Japan's second biggest car | :00:41. | :00:46. | |
maker warns about profits. Around the world, household incomes | :00:47. | :00:49. | |
are being squeezed as prices rise faster than wages. In much of Europe | :00:50. | :00:55. | |
and in the United States we're now worse off than we've been for a | :00:56. | :00:58. | |
generation. That's sparked an international movement for a | :00:59. | :01:02. | |
so`called living wage. In the US, millions of fast`food workers have | :01:03. | :01:05. | |
set that at about $15 an hour, that's more than double the current | :01:06. | :01:12. | |
national minimum wage of $7.25. And today, one city in the US could be | :01:13. | :01:16. | |
the first to enshrine this ideal into law. Samira Hussain reports | :01:17. | :01:28. | |
from Seattle. In the small town on America's West | :01:29. | :01:31. | |
Coast, this woman as part of a group who spend their evenings going | :01:32. | :01:41. | |
door`to`door, canvassing the change. The town that spans roughly 26 | :01:42. | :01:46. | |
kilometres, home to 27,000 people. Members of this committee are | :01:47. | :01:52. | |
pushing for a big change. They want an increase to the minimum wage. | :01:53. | :01:57. | |
Workers to $15 an hour while. Advocates say people in low skilled | :01:58. | :02:00. | |
jobs should be able to make enough to live. In this small apartment, | :02:01. | :02:08. | |
this meant support his wife, his son, and his mother. Despite working | :02:09. | :02:13. | |
full`time, he finds making ends meet tough. If we get a better wage, it | :02:14. | :02:19. | |
will be quite easy. We need to pay things. I have no money in my hand. | :02:20. | :02:25. | |
It is hardly enough to pay for everything. While the minimum wage | :02:26. | :02:31. | |
in the US has steadily increased over the years, the actual value has | :02:32. | :02:37. | |
declined. Comparatively, people are now earning less. This is the main | :02:38. | :02:43. | |
economic engine, the international airport. If the minimum wage | :02:44. | :02:50. | |
increases to $15 per hour, most of the 6300 people who will benefit | :02:51. | :02:56. | |
work here. It is also at the airport that she will find detractors, those | :02:57. | :02:59. | |
who say that that simply is unaffordable. This man owns this | :03:00. | :03:06. | |
fast food restaurant in the terminal. If proposition one passes, | :03:07. | :03:14. | |
he fears the worst. Going from $9 16 and now, to $15 an hour, it is a | :03:15. | :03:21. | |
make any sense to us. There is no way we can compete and survive. This | :03:22. | :03:25. | |
is the country that gave birth to the American dream, but people are | :03:26. | :03:33. | |
now angry at rising inequality. This suburb is the latest battleground in | :03:34. | :03:39. | |
that fight. If successful, what happens here could spread to other | :03:40. | :03:47. | |
American cities. Shares in this and have fallen 11% | :03:48. | :03:52. | |
in Tokyo today. It came after the firm cut its profit forecast at the | :03:53. | :03:57. | |
end of last week. The Japanese carmaker expects to make a profit of | :03:58. | :04:05. | |
three and 35 billion yen. `` 350 5 billion yen. | :04:06. | :04:14. | |
The Japanese markets were closed yesterday, it is why we are seeing | :04:15. | :04:22. | |
the reaction today. Tell us more. It is a disappointment for many | :04:23. | :04:27. | |
investors, those we can expect of numbers. Shares are currently being | :04:28. | :04:32. | |
offloaded and are now at seven`month lows. A major reduction in the | :04:33. | :04:41. | |
annual profit estimate. It is being blamed on a host of factors. | :04:42. | :04:47. | |
Particularly on emerging markets and quality issues. The president of in | :04:48. | :04:57. | |
this and contributed it to poor conditions in Europe. The volatile | :04:58. | :05:08. | |
market have been lent. Shares in Russia, Indonesia and Brazil are | :05:09. | :05:12. | |
currently shrinking. The numbers are surprisingly adding up in China, | :05:13. | :05:16. | |
amid slowing growth in that market. Despite slowing sales, they have set | :05:17. | :05:21. | |
aggressive expansion targets over the next few years for Japan's | :05:22. | :05:25. | |
second`biggest carmaker by boosting global market share and its | :05:26. | :05:36. | |
operating margin. They are optimistic about going forward. | :05:37. | :05:43. | |
Thank you. Some good news for thousands of homeowners across | :05:44. | :05:48. | |
hungry. Its Parliament is expected to pass a law today to reduce the | :05:49. | :05:52. | |
size of their mortgage debt. More than a million Hungarians took out | :05:53. | :05:55. | |
loans in foreign currencies to take advantage of low interest rates. | :05:56. | :05:58. | |
But, the size of their debts skyrocketed when the value of the | :05:59. | :06:00. | |
Hungarian currency, the Forint, plunged in the aftermath of an | :06:01. | :06:07. | |
economic crisis. Our correspondent in Budapest is Nick Thorpe. | :06:08. | :06:14. | |
This is a fairly proactive move, isn't it? Tell us more about how | :06:15. | :06:20. | |
they hope to rescue households who are saddled with debt. As you say, | :06:21. | :06:28. | |
more than 1 million Hungarians, 10% of the population, took up these | :06:29. | :06:31. | |
loans. They have been an enormous burden. It is slowing down the whole | :06:32. | :06:44. | |
economy. The latest move is an expansion of one of the tools they | :06:45. | :06:47. | |
have already introduced. It is called an extreme 's rate mechanism. | :06:48. | :06:58. | |
`` and exchange rate mechanism. People will pay the mortgage at to | :06:59. | :07:03. | |
exchange rate. It has been reduced. Most of the loan are in Swiss | :07:04. | :07:10. | |
francs. The current rate is 240. It has been reduced to 180. They paid | :07:11. | :07:16. | |
at one rate. The rest of the money they have to pay into a separate | :07:17. | :07:23. | |
account. It is a complicated matter. They're going to vote that through | :07:24. | :07:31. | |
this morning. Thank you. As you have been hearing, in a few hours time, | :07:32. | :07:36. | |
the Indian space agency will launch a spacecraft to go where no Asian | :07:37. | :07:42. | |
nation has gone before. We are talking about Mars. If they are | :07:43. | :07:46. | |
successful it will be a technological leap that will propel | :07:47. | :07:50. | |
India ahead of rivals China and Japan in the field of inter` | :07:51. | :07:53. | |
planetary exploration. The country has been criticised for spending on | :07:54. | :07:58. | |
a space programme and has millions of poor living on less than $1 per | :07:59. | :08:03. | |
day. This mission has cost $73 million. In contexts that is a small | :08:04. | :08:09. | |
amount. In the US, it would cost ten times as much grace similar mission. | :08:10. | :08:15. | |
India has spent around $1 billion a year on space programme. It has 20 | :08:16. | :08:22. | |
satellites in orbit. To talk through Siam joined by the president of the | :08:23. | :08:28. | |
inter` planetary Society. Thank you for being with us. There is a huge | :08:29. | :08:33. | |
debate about a country like India investing so much in space. I am | :08:34. | :08:39. | |
assuming that you would be for this kind of investment. Give us your | :08:40. | :08:45. | |
argument, given the thousands, if not millions of people struggling to | :08:46. | :08:50. | |
get by in India. As recognised by India, the space technology is a | :08:51. | :08:57. | |
very powerful one, and a very important one of the country is | :08:58. | :09:00. | |
going to progress. They have recognised this and made the | :09:01. | :09:04. | |
investment. They have been very clever about their investment | :09:05. | :09:11. | |
because they ate used to buying their spacecraft and equipment. They | :09:12. | :09:14. | |
have started manufacturing this themselves. You always be the next | :09:15. | :09:20. | |
target. They have been trying to get ahead again, now they are doing. | :09:21. | :09:25. | |
They are doing their own thing. They went to the moon in 2008, were next? | :09:26. | :09:32. | |
Mars has to be it. What evidence is there to show that countries that | :09:33. | :09:34. | |
have pushed forward in terms of their space programmes have seen an | :09:35. | :09:39. | |
economic benefit for the whole economy, as opposed to a small | :09:40. | :09:46. | |
industry or aspect of an economy. It goes fairly deeply into the whole of | :09:47. | :09:53. | |
the lifeblood of the nation. Education takes a great leap | :09:54. | :09:58. | |
forward. People come on board, they see the technologies that they want | :09:59. | :10:03. | |
to use in everyday life. They start to actually take an interest and | :10:04. | :10:09. | |
become highly educated. We are now using a lot of our best engineers | :10:10. | :10:17. | |
from India and China. We'll have to leave this conversation at this | :10:18. | :10:26. | |
point. We appreciate your time. We have run out of time here on | :10:27. | :10:29. | |
World Business Report. We appreciate your company. The paper review in a | :10:30. | :10:32. | |
few minutes. According to a major new study, | :10:33. | :10:45. | |
migrants who've come to the UK since the year 2000 have made a | :10:46. | :10:47. | |
substantial contribution to public finances. The report from the Centre | :10:48. | :10:51. | |
for Research and Analysis of Migration at University College, | :10:52. | :10:53. | |
London found that recent immigrants were less likely to live in social | :10:54. | :10:56. | |
housing or claim benefits, than people who were born in Britain. | :10:57. | :11:08. | |
The debate about immigration has been fuelled by claims of benefit | :11:09. | :11:12. | |
tourism. There is an argument that migrants come to the UK to live off | :11:13. | :11:16. | |
the state. This details report suggests those claims are not true. | :11:17. | :11:19. | |
Rather than being | :11:20. | :11:20. |