Browse content similar to 20/08/2014. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
are the latest headlines from BBC World News. Now for the latest | :00:00. | :00:00. | |
financial news with Sally Bundock and World Business Report. Another | :00:00. | :00:18. | |
fine ` Standard Chartered is ordered to pay $300 million by American | :00:19. | :00:21. | |
regulators for failing to prevent money laundering. Bookseller Barnes | :00:22. | :00:28. | |
and Noble teams up with Samsung in an attempt to revive the fortunes of | :00:29. | :00:39. | |
its ailing e`reader, the Nook. Welcome to World Business Report. | :00:40. | :00:46. | |
I'm Sally Bundock. Also in the programme: Japanese car parts makers | :00:47. | :00:48. | |
are found guilty of price`fixing in China. We'll have the details. But | :00:49. | :00:55. | |
first: One of Britain's biggest banks, Standard Chartered, has been | :00:56. | :00:58. | |
fined $300 million by New York's banking regulator. It said the bank | :00:59. | :01:01. | |
had failed to improve money laundering problems highlighted in | :01:02. | :01:04. | |
2012, when it also had to pay a multimillion`dollar fine. Michelle | :01:05. | :01:19. | |
Fleury is in New York for us. With operations here in New York, | :01:20. | :01:22. | |
Standard Chartered suspended under the supervision of the Department of | :01:23. | :01:24. | |
Financial Services. This is the second penalty the bank has paid to | :01:25. | :01:29. | |
the main New York state regulator. Both are related to trade with | :01:30. | :01:35. | |
countries blacklisted by the US. The British bank said it was working to | :01:36. | :01:38. | |
fix these problems with the utmost urgency, in addition to improving | :01:39. | :01:44. | |
compliance. As part of a settlement in 2012, a monitor was appointed to | :01:45. | :01:50. | |
watch over its dealings. That surveillance uncovered failings to | :01:51. | :01:51. | |
identify risky transactions that could be part of money`laundering. | :01:52. | :01:58. | |
On top of that, the lender has been ordered to suspend or excerpts its | :01:59. | :02:01. | |
business with risky clients in Hong Kong, and it cannot accept new | :02:02. | :02:04. | |
clearing accounts in US dollars without the regulator's approval. | :02:05. | :02:19. | |
Benjamin Law ski, a regulator with a reputation for being tough on banks, | :02:20. | :02:24. | |
says if a bank fails to live up to its commitment, there should be | :02:25. | :02:27. | |
consequences. The penalty is yet more bad news for chief executive | :02:28. | :02:29. | |
Peter Sands and for Standard Chartered, which reported a 20% drop | :02:30. | :02:36. | |
in profits. China fined 12 Japanese auto`parts makers a record 1.24 | :02:37. | :02:38. | |
billion yuan, that's $200 million, for price`rigging after one of the | :02:39. | :02:41. | |
broadest investigations since the nation's antitrust law came into | :02:42. | :02:54. | |
effect six years ago. Rico Hizon is in our Asia Business Hub in | :02:55. | :03:04. | |
Singapore. Tell us more about this. This is interesting. The 12 | :03:05. | :03:07. | |
companies which have been pinpointed. That's right. You have | :03:08. | :03:13. | |
eight auto`parts makers being fined $135 million, and another four | :03:14. | :03:18. | |
manufacturers, $65 million. And this is due to so`called collusive | :03:19. | :03:25. | |
behaviour. The companies drew this record antitrust fine as scrutiny by | :03:26. | :03:30. | |
mainland authorities continues to tighten up, not only in the auto | :03:31. | :03:36. | |
sector, but in other industries. And Sally, the investigations, which | :03:37. | :03:40. | |
have led at least seven auto makers to cut prices, has raged so much | :03:41. | :03:45. | |
concern from foreign businesses that European businesses say they are | :03:46. | :03:51. | |
being picked on `` raised. But the government has stressed that | :03:52. | :03:53. | |
companies operating in mainland China will be punished if they | :03:54. | :03:57. | |
violate laws, regardless of whether they are domestic or foreign | :03:58. | :04:01. | |
companies. One of my top stories last week was the dismal growth | :04:02. | :04:05. | |
numbers coming from Japan. It was pretty shocking. But in terms of | :04:06. | :04:09. | |
trade, they have had a good month in July. Fill us in. That's right. Good | :04:10. | :04:15. | |
news. For the first time in three months, exports are in positive | :04:16. | :04:20. | |
territory. Growth, driven by increased shipments of cars to | :04:21. | :04:25. | |
Europe, metal processing machinery, and items such as LCD screens. | :04:26. | :04:29. | |
Exports which account for more than half of Japan's total exports rose | :04:30. | :04:34. | |
due to increases in ship. Exports to the US gaining as Japan shipped more | :04:35. | :04:42. | |
car parts. `` shipments. Overall it has been positive in the month of | :04:43. | :04:46. | |
July. Japanese exports have been struggling with weak demand from | :04:47. | :04:52. | |
Asia through much of the year drew to a growing shift production | :04:53. | :04:54. | |
overseas. But when you speak to analyst, they say this data is a | :04:55. | :04:58. | |
tentative sign that overseas demand is starting to recover, raising | :04:59. | :05:01. | |
hopes that exports could offset a slump in consumer spending, which | :05:02. | :05:05. | |
has been impacted by this rise in the consumption tax from five to 8% | :05:06. | :05:11. | |
from the 1st of April. Thank you very much indeed. Are you into | :05:12. | :05:19. | |
e`books? The e`book reader Nook, launched by US publishers Barnes | :05:20. | :05:22. | |
Noble, was meant to rival Amazon's Kindle. It cost billions of dollars | :05:23. | :05:25. | |
to develop, but so far has reaped the company no profit. Later today, | :05:26. | :05:28. | |
in New York, Barnes Noble will unveil a new version of the Nook, | :05:29. | :05:32. | |
which it hopes will put it back in the e`book race. So what is it? And | :05:33. | :05:36. | |
will it make any more money than the last version? Jeremy Howell reports. | :05:37. | :05:51. | |
Barnes Noble launched its Nook e`book reader five years ago, as a | :05:52. | :05:58. | |
rival to Amazon Amazon's enormously popular Kindle. But the Nook has | :05:59. | :06:06. | |
racked up $17 million in losses. Amazon built on its strengths, | :06:07. | :06:11. | |
launching the Kindle Via tablet and establishing complete dominance of | :06:12. | :06:16. | |
the market. Nowadays in the US, a quarter of adults read e`books stop | :06:17. | :06:19. | |
nearly half of them use a Kindle reader. Over a quarter years the | :06:20. | :07:02. | |
Kindle Fire. Less than 10% use the Nook e`reader, and only 15% use the | :07:03. | :07:43. | |
Nook tablet. They have succeeded by building an environment very early | :07:44. | :07:47. | |
on when you could write a book with a single click. They made a | :07:48. | :07:49. | |
marketplace where buying a book was a throwaway impulse purchase, much | :07:50. | :07:52. | |
like iTunes is for Apple. By the time Nook came to the market with | :07:53. | :07:54. | |
its own fully developed marketplace, they had already lost too much | :07:55. | :07:57. | |
ground not only to Amazon but to the other viable platforms as well. I | :07:58. | :08:01. | |
love it. The Mac this is so cool. This is really nice. A few days ago | :08:02. | :08:04. | |
Tom Sharp eyed surfers on the Internet found this advertisement. | :08:05. | :08:06. | |
It is an e`book reader app which will run on a Samsung tablet. The | :08:07. | :08:08. | |
company is switching strategy, offering its product on another | :08:09. | :08:11. | |
company's mobile device. The smarter purchasing option in my eyes is to | :08:12. | :08:14. | |
buy a tablet you can read your e`books on, rather than a standalone | :08:15. | :08:16. | |
device. So Samsung is being quite canny in that respect. However, | :08:17. | :08:18. | |
there are already some great e`reader apps on the market, that | :08:19. | :08:21. | |
you can download to any tablet or smartphone you own right now. | :08:22. | :08:24. | |
Apple's devices and Google android devices already carried e`book | :08:25. | :08:27. | |
reading apps. So it seems that in tying up with Samsung, Nook will be | :08:28. | :08:30. | |
trying to fight its way into a crowded market place. In other news: | :08:31. | :08:36. | |
Some Air France flight crews are refusing to board planes bound for | :08:37. | :08:38. | |
Guinea, Sierra Leone and Nigeria, over fears of the Ebola outbreak. | :08:39. | :08:41. | |
The airline said cabin crew scheduled to work on some flights | :08:42. | :08:44. | |
have not wanted to carry out their assignment. But Air France says none | :08:45. | :08:47. | |
of the flights destined for the region had been left short`staffed. | :08:48. | :08:50. | |
Former Microsoft chief executive Steve Ballmer has said he is | :08:51. | :08:53. | |
stepping down from the board of the tech giant, with immediate effect. | :08:54. | :08:57. | |
In a public letter, Mr Ballmer said he had become very busy since he | :08:58. | :09:00. | |
quit the top job, and that it would be impractical to continue. His | :09:01. | :09:03. | |
decision to leave follows his recent purchase of the Los Angeles Clippers | :09:04. | :09:06. | |
basketball team. And the handset maker HTC has unveiled a new | :09:07. | :09:09. | |
smartphone that runs a Windows Phone operating system. The modified One | :09:10. | :09:12. | |
M8 is being sold at roughly half the price of the same handset running | :09:13. | :09:15. | |
Google's Android. This is the first time the struggling manufacturer has | :09:16. | :09:18. | |
released a Windows smartphone in more than two years. Looking at | :09:19. | :09:22. | |
financial markets, things are quieter and more volatile. Eight | :09:23. | :09:27. | |
days in a row of gains for Japan. A weak yen, the dollar gaining ground | :09:28. | :09:31. | |
against most major currencies, today you can see it buying 103 yen. That | :09:32. | :09:41. | |
benefits Japan's bid companies like Sony and other export exposed | :09:42. | :09:44. | |
companies. That is the close in the US. Look at the NASDAQ. One of the | :09:45. | :09:50. | |
league games was Apple. Those shares climbed, boosting markets in general | :09:51. | :09:52. | |
`` big gains. A government minister has described | :09:53. | :10:04. | |
mental health services for young people in England as not fit for | :10:05. | :10:07. | |
purpose and stuck in the Dark Ages. The Care Minister Norman Lamb was | :10:08. | :10:11. | |
speaking to BBC News, as he gave details of a task force that is | :10:12. | :10:14. | |
being set up to improve services. Mr Lamb was speaking to our social | :10:15. | :10:16. | |
affairs correspondent, Michael Buchanan. | :10:17. | :10:23. |