22/09/2014 World Business Report

disobedience. These are the latest headlines. It is time for the

financial news with Sally Bundock who was here with World Business

Report. How Indian farmers use technology to

battle the effects of climate change. And a closing the

loopholes, G 20 finance ministers say they have seen progress in

making it difficult for multinationals to avoid paying

taxes. Welcome to World Business Report, I am Sally Bundock. We will

also discuss the fallout from the Scottish referendum. Firstly, today

marks the start of New York by midweek and the UN climate summit.

Leaders of meet to discuss economic revival solutions to the ever

mounting problem of climate change. This is the first of our week`long

series. Today we look at how agriculture is rising to that

challenge. Today we go to the northern Indian state of Haryana.

It is the end of the monsoon in India but it has not been a good

year. During the sewing and planting when water was needed, rain was

largely absent. Now it is nearly harvest time and it has been raining

heavily. But for this farmer all is not lost. He has been turning to

technology for help. This is one of the gadgets he uses to measure the

help of his crops. TRANSLATION: Using technology has

helped plan according to the forecast.

While profits have not gone up dramatically, technology is helping

me reduce my losses. You can see the impact of climate change in this

region. Once known as the grain basket of India, farmers here are

worried about the lack of fertility in the soil and the water levels are

dipping. Experts warned that climate change may mean the yield goes down.

One way to combat this is to reintroduce traditional cops such as

maize, which was once a staple here. This is one of the dozens of

villages that are ducting in this state. People have been helped to

move to so`called "climate smart" technology by a research group

trying to mitigate the impact of changing weather patterns. We need

to do a lot. Agriculture needs to be managed better. A track to local

government is slowly changing agricultural policy to recognise the

effects of changing climate. Not all farm at have yet switched to new

techniques, seeing neighbours who succeed when they do so is bound to

be a strong incentive. The fate of Air France is at stake

in a dispute tween the airline it is pilots, according to the

French transport Minister. There are protests against the development of

the budget carrier Transavia where pilots are paid less. The pilot's

strike will enter its second week today. General Motors has recalled

more than 220,000 cars to correct a brake defect that could increase the

risk of fire. GM says it is not aware of any deaths or injuries from

the defect. The recall Cadillac models from 2013 and 14,

and recent versions of the Chevrolet impala. Most of the owners are in

the US and Canada. Finance ministers from the world's 20 largest

economies have left a meeting in a failure knowing they have nearly

achieved their target for boosting global economic growth and jobs.

Rico Hizon in Singapore with more details. Are they leaving feeling

wary warm inside or is a lot ought to do? There is a lot more to do

particularly on tax reform. The risks are still there. Loopholes

still allow multinational companies to avoid tax. The Treasurer in

Estrada says they have agreed to far`reaching initiatives. ``

Estrada. `` Australia. Earlier I spoke to Sean King from an advisory

company. Would these reforms be successful, I asked him. No. It

would not change tax policy. One? That is up to individual countries

and legislatures. The G 20 is a super national body that has no

powers. But by the end of 28 in the member states would share tax

information so people know who is making how much aware, so while they

cannot stop countries for making tax evasion, most of which is illegal,

they can at least publicly shame some of them into paying money where

they make the money. G 20 financial ministers have called on all

financial hubs to make the commitment by the time of the next

meeting of. And they are asking to be supported to help in this new tax

standard. Thank you Rico. It is now the Monday morning after the

Scottish referendum on independence on Friday. Financial markets, global

investors have had the weekend today just how the vote went. The reaction

on Friday was as expected with the FTSE 100 higher and the pound

sterling regaining count lost against the dollar. That the ground.

What are now? There is a lot of work to do for the UK's politicians. And

of course there is a general election next year. I am joined by a

senior economist from Westpac institutional bank. So much

discussion about this over the weekend. Also outside of the UK,

many countries were watching this. There is still a lot to do, an awful

lot to do? And there is. There are still an element of uncertainty.

There is this commitment that most of the political parties have made

about further devolution. Business is looking to invest in the UK may

still be questioning is there further devolution? Maybe not in

relation to Scotland but perhaps Wales? Britain is not as quiet as

politically secure as it was in the past, that is the ongoing sense. So

for businesses and corporations, the big spectre of a yes vote, that has

been removed from the equation, but there is to a lot of uncertainty. On

Friday we had the FTSE 100 going up and the pound gained ground. But

also the Spanish market also saw a strong reaction because with this

result in Scotland it is thought other areas, for example Catalonia

in Spain, that might try and do the same thing may put it off. For a no

vote, people are worried about the uncertainties. That is what it

suggests. People working for the unknown. We had not much

established, for example how mortgage prices would change. If

that had been established people may have voted different it. ``

differently. It is a difficult way to run this whole situation. What

about the UK economy prior to the referendum? A lot of attention on

the Bank of England, mention of interest rates going up in the UK.

There was indication of the UK economy being one of the strongest

recovering in the world, do you think all this political wrangling

between now and the general election next year could stall some of that

growth and recovery? There is the potential impact. But not as much as

we would have seen if there had been a yes vote. At the margin and lot of

the data about retail sales and the inflation numbers, that is low. The

case for rate rises is low anyway. Thank you for your time. We will

talk more about that when we look at the papers. Stay with us. Increases

in child benefit will be capped at 1% until 2017 if Labour win the next

election. The policy will be announced today in a speech in

Manchester. The savings will go towards cutting the deficit in a

part of a complete