Browse content similar to 02/01/2014. Check below for episodes and series from the same categories and more!
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rescue helicopter test the ice close by. Those are the latest headlines. | :00:00. | :00:00. | |
Now for the latest financial news with World Business Report. | :00:00. | :00:16. | |
Show me the money - as entrepreneurs like this restaurant owner turn to | :00:17. | :00:20. | |
the general public via the internet to fund their start-ups, regulators | :00:21. | :00:25. | |
wonder how to police the process. Derelict buildings, deserted, | :00:26. | :00:28. | |
dilapidated shopping malls - no, it's not the setting of a new zombie | :00:29. | :00:31. | |
movie, it's the result of austerity in Portugal. We'll take you on the | :00:32. | :00:37. | |
most unusual sight-seeing tour you'll ever experience. | :00:38. | :00:44. | |
Welcome to World Business Report. Also in the programme: Hyundai warns | :00:45. | :00:51. | |
2014 could be a tough year due to the stronger South Korean won. | :00:52. | :00:58. | |
Was it your New Year's resolution to launch your own company? Do you need | :00:59. | :01:04. | |
some money to do so? In the wake of the financial crisis, entrepreneurs | :01:05. | :01:07. | |
have rushed to tap the general public for cash to get their | :01:08. | :01:10. | |
start-ups going. Using crowd-funding websites like Crowd-cube, Seedrs and | :01:11. | :01:13. | |
Angel-list, aspiring entrepreneurs can hook up with amateur investors | :01:14. | :01:23. | |
and well-wishers across the planet. But if the past year saw crowd | :01:24. | :01:26. | |
funding come of age, 2014 will be the year it has to face up to | :01:27. | :01:30. | |
regulators as they get to grips with this new freewheeling era of | :01:31. | :01:34. | |
internet investing. Caroline Hepker reports. | :01:35. | :01:49. | |
This restaurant in London's edgy district. 50 online investors made | :01:50. | :01:55. | |
this possible with $400,000. They say crowd funding was the right | :01:56. | :01:58. | |
ingredients. Essentially, to get to open a business with 50 champions | :01:59. | :02:04. | |
real business. For us, it is a no-brainer. For this investor, a | :02:05. | :02:12. | |
taste of success, but a gamble. Spreading your money is a good idea. | :02:13. | :02:18. | |
Anyone of them easily fail. Small businesses tend to do that. As long | :02:19. | :02:21. | |
as one of them does well, it is worth it. The UK regulator is | :02:22. | :02:29. | |
bringing in new rules to make the risks clearer, and to limit how much | :02:30. | :02:33. | |
you can invest. What we want to do is come out with something that is | :02:34. | :02:37. | |
proportionate, that provides the appropriate protection but allows | :02:38. | :02:41. | |
firms and consumers access to an important source of funding. That | :02:42. | :02:47. | |
could mean more ideas like this salad dressing making it to our | :02:48. | :02:50. | |
shelves. Europe has been slow to adopt crowd funding, but is | :02:51. | :02:55. | |
consulting on new regulations. The US will make share -based crowd | :02:56. | :03:02. | |
funding possible nationwide in 2014. Crowd funding has been absolutely | :03:03. | :03:07. | |
key. From starting with the fantastic support of a store like | :03:08. | :03:10. | |
this, to being in over 1000 supermarkets in the UK and entering | :03:11. | :03:16. | |
500 supermarkets in North America, it has grown by elites and bounds. | :03:17. | :03:20. | |
So could this new form of investment. Crowd funding has | :03:21. | :03:25. | |
exploded into the post financial crisis entered its powered age. It | :03:26. | :03:30. | |
is making some big promises. Cash reinvented entrepreneurs, big | :03:31. | :03:34. | |
returns investors, and jobs from the rest of the economy. For every | :03:35. | :03:39. | |
success story, they could be plenty of cautionary tales from the | :03:40. | :03:42. | |
Internet. The South Korean car giant Hyundai | :03:43. | :03:45. | |
is warning 2014 will be a tough year with sales hit by the strength of | :03:46. | :03:51. | |
the won. Sharanjit Leyl is in our Asia Business Hub in Singapore. | :03:52. | :03:58. | |
Happy New Year. Tell us more about here and they. It is not set to be a | :03:59. | :04:12. | |
happy day for Hyundai. It is projected to be their weakest annual | :04:13. | :04:17. | |
sales growth in about a decade. Shares of Hyundai and its affiliates | :04:18. | :04:23. | |
have got more than 4%. This came after they issued a growth forecast. | :04:24. | :04:27. | |
Combined sales of respected grow by 4%. That is the slowest for nearly a | :04:28. | :04:37. | |
decade. This is mainly due to the strength of the Korean currency. | :04:38. | :04:41. | |
They are making less money from profits brought home from overseas. | :04:42. | :04:46. | |
Their Japanese counterparts are benefiting greatly from the currency | :04:47. | :04:49. | |
swings. They have reaped the benefits of a weaker yen, which made | :04:50. | :04:54. | |
their products more competitive overseas and that they make more | :04:55. | :05:00. | |
money bring the proper time. The Japanese currency fell nearly 20% | :05:01. | :05:04. | |
against the US dollar in 2013, while the Korean won has risen nearly 10%. | :05:05. | :05:12. | |
After facing a fall in market shares, Hyundai is shaking up its US | :05:13. | :05:19. | |
management. They have been facing increased competition from domestic | :05:20. | :05:24. | |
carmakers, the likes of Ford and General Motors. That means that they | :05:25. | :05:29. | |
growth in the US is starting to slow. Korean buyers are also seduced | :05:30. | :05:37. | |
by Hyundai's German rivals, who are encroaching on their home turf. As | :05:38. | :05:42. | |
if that isn't bad enough, Hyundai has been hit by a series of strikes, | :05:43. | :05:49. | |
which has resulted in fewer vehicles produced at its South Korean | :05:50. | :05:53. | |
factories. Thank you. We will see you soon. | :05:54. | :05:55. | |
If official sightseeing tours of big cities leave you cold, then Porto, | :05:56. | :05:58. | |
the regional capital of Northern Portugal could have just the thing | :05:59. | :06:02. | |
for you. Three out-of-work architects upset at the impact of | :06:03. | :06:05. | |
austerity on their historic home city have set up an unusual walking | :06:06. | :06:12. | |
tours agency. They call it The Worst Tours. Instead of taking visitors to | :06:13. | :06:17. | |
the famous wine lodges and historic tourist sites, they'll take you to | :06:18. | :06:23. | |
all the worst places in town. No less than 70,000 buildings are now | :06:24. | :06:25. | |
derelict in Porto, and entire shopping centres have had to close. | :06:26. | :06:28. | |
Our Europe business correspondent Nigel Cassidy has been on one of the | :06:29. | :06:41. | |
tours and sent this report. Medieval and rock, a World Heritage | :06:42. | :06:45. | |
site on a river near the ocean. Portugal's second city is a | :06:46. | :06:49. | |
photogenic jewel in the city's crown. Visitors flocked there by the | :06:50. | :06:55. | |
tram load to taste the wine. Walk just a few steps down the main | :06:56. | :06:59. | |
shopping street, and the rest to many abandoned neocolonial | :07:00. | :07:02. | |
buildings. It is almost as if you have stumbled into a mini Nirvana. I | :07:03. | :07:07. | |
would like to take a at this building. Meet the worst to guides. | :07:08. | :07:12. | |
Theirs is the opposite of your normal tourist tour. Jobless | :07:13. | :07:17. | |
architects take you down dark alleys and through Main Street, to see how | :07:18. | :07:21. | |
hard economic times hurt the city they love. The organisers say | :07:22. | :07:26. | |
bailout measures make Portugal more competitive, but have badly damaged | :07:27. | :07:32. | |
the city. They say wages and spending power has fallen so much | :07:33. | :07:35. | |
that hundreds of businesses have been forced to close. They say | :07:36. | :07:40. | |
austerity is an abstract concept, it is something you can touch, see and | :07:41. | :07:47. | |
feel. 2000 firms have ceased trading in the past two years alone. Some | :07:48. | :07:51. | |
see this as inevitable economic change. Tour guides say it is | :07:52. | :07:55. | |
because local spending power has been destroyed. People have less | :07:56. | :08:01. | |
money. They cannot maintain the internal market. The cuts are making | :08:02. | :08:13. | |
a downward spiral in society. Here is another stop on the tour. This | :08:14. | :08:17. | |
ancient public washing place, high above a river, is now more heavily | :08:18. | :08:22. | |
used by families who cannot afford washing machines. Of all the places | :08:23. | :08:28. | |
we have seen here, this is the most extraordinary. The 1980s style | :08:29. | :08:34. | |
shopping centre, all of them are empty. But something is going on. It | :08:35. | :08:39. | |
is not anti any more. A lot of bands and musicians started using up the | :08:40. | :08:47. | |
clothing shops for rehearsals. Sometimes we have several bands | :08:48. | :08:52. | |
using up the space. The city still has plenty to charm visitors. This | :08:53. | :08:56. | |
to just hopes that by highlighting the worst part, they can show where | :08:57. | :09:01. | |
investment is badly needed. In other news: Italian carmaker Fiat | :09:02. | :09:04. | |
is taking over the rest of Chrysler for about $3.7 billion dollars. Fiat | :09:05. | :09:09. | |
already owns most of the US automaker, and is buying the | :09:10. | :09:11. | |
remaining 41.5% from a healthcare union. The deal will allow Fiat to | :09:12. | :09:15. | |
reduce its reliance on the struggling European car market and | :09:16. | :09:18. | |
focus on growing its US car sales. Chrysler is America's third-biggest | :09:19. | :09:21. | |
carmaker and emerged from a government-managed bankruptcy in | :09:22. | :09:26. | |
2009. China plans to loan Pakistan $6.5 | :09:27. | :09:29. | |
billion for the construction of two nuclear power stations in Karachi, | :09:30. | :09:31. | |
marking the biggest-ever Chinese financing deal for a single project | :09:32. | :09:37. | |
in the country. The new facilities will increase Pakistan's electricity | :09:38. | :09:40. | |
supply by about 15% and signifies deepening ties between the two Asian | :09:41. | :09:53. | |
nations. Financial markets today, not all are | :09:54. | :09:56. | |
open to trade. Japan is close to a public were there. Hong Kong is | :09:57. | :10:02. | |
open, as are the Chinese market. The big loser in South Korea is | :10:03. | :10:08. | |
Hyundai. One of the story is talking the market today is China's | :10:09. | :10:12. | |
manufacturing numbers, which were disappointed. | :10:13. | :10:24. | |
Thank you. Families are being urged to swap fatty foods out of their | :10:25. | :10:29. | |
diets in a new campaign by Public Health England. The organisation, | :10:30. | :10:32. | |
which is part of the Department of Health, says making simple switches | :10:33. | :10:35. | |
in what we eat and drink could make a difference. But its use of money | :10:36. | :10:39. | |
off vouchers as part of the idea has been criticised as a quick fix that | :10:40. | :10:44. | |
doesn't offer families the best deal. Here's our | :10:45. | :10:45. |