23/12/2015 World Business Report


23/12/2015

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Those are the latest headlines from BBC News.

:00:00.:00:00.

Now for the latest financial news with Sally

:00:00.:00:00.

Are the European Union rules on cigarette packaging

:00:00.:00:17.

The EU's Court of Justice will rule today

:00:18.:00:21.

And staring into the crystal ball to see what

:00:22.:00:29.

OPEC's outlook is released in a few hours.

:00:30.:00:42.

Also in the programme: how seasonal Santa

:00:43.:00:46.

Tobacco firms will today find out if they've won their case

:00:47.:00:54.

against the European Union's rules on cigarette packaging and sales.

:00:55.:00:58.

Philip Morris, BAT and Imperial Tobacco are among a

:00:59.:01:01.

number of big firms joining forces to attack the legality of the EU's

:01:02.:01:04.

Tobacco Products Directive which seeks to reduce the number of people

:01:05.:01:18.

The Smoke Free Partnership, who are part funded by the European

:01:19.:01:26.

Commission estimate smoking costs the EU Economy over $107 billion.

:01:27.:01:30.

The new rules, voted on last year, included a ban

:01:31.:01:33.

on flavoured cigarettes, a ban on so called lipstick-style

:01:34.:01:36.

packs aimed at women and the requirement for 65% of each packet

:01:37.:01:39.

Crucially the commission also said that plain packaging could go ahead

:01:40.:01:46.

when "justified on grounds of public health".

:01:47.:01:49.

Europe's highest court will be asked to rule today on

:01:50.:01:52.

whether or not the EU's actions were proportionate and if they work

:01:53.:01:55.

Florence Berteletti is the director of the Smoke Free Partnership.

:01:56.:02:08.

Thank you for being on the programme. What do you think the

:02:09.:02:14.

European Court of justice will decide today? He have any

:02:15.:02:19.

inclination as to which way they are swaying? Good morning, well,

:02:20.:02:25.

regardless of what has happened this morning, what is happening with

:02:26.:02:29.

regard to the tobacco industry in the world is not going in their

:02:30.:02:36.

favour. The tobacco industry has always thought that it could get

:02:37.:02:46.

away with murder, but I'm very hopeful that the Advocate general's

:02:47.:02:51.

opinion will actually go the same way as the way it has been going

:02:52.:02:58.

around the world. And that it will vote in favour of children and

:02:59.:03:04.

public health. As you illustrate, there is a very strong argument for

:03:05.:03:13.

them to rule... That the EU rules are OK and should be enforced across

:03:14.:03:17.

the region, but they do have to interpret the law and see whether

:03:18.:03:20.

legally, which is what that tobacco firms are arguing, the EU has

:03:21.:03:36.

overstepped the mark. Also, the principle of subsidiarity, where the

:03:37.:03:39.

state decides on something and not the EU. As much as we might like to

:03:40.:03:44.

see tobacco companies being hampered, it does come down to the

:03:45.:03:49.

law, doesn't it? Of course it does come to the law, in the same way

:03:50.:03:53.

that it came down to the law in Australia, Uruguay, and many other

:03:54.:03:57.

court cases around the world. Let's not forget that it took five years

:03:58.:04:04.

for this particular directive to get past. The European Commission, the

:04:05.:04:11.

parliament, every single country including the UK was looking at the

:04:12.:04:18.

legality of the directive and took great care. I get the feeling that

:04:19.:04:25.

actually they didn't get it wrong. And yes, the tobacco industry sued

:04:26.:04:31.

The European Commission, that is what we have been talking about, the

:04:32.:04:37.

tobacco industry suing The European Commission for voting in favour of

:04:38.:04:42.

children, and I still believe that the Advocate general's opinion,

:04:43.:04:50.

which is not the court's final say, will rule in favour of children. OK,

:04:51.:04:55.

thank you very much for your time, and when we get the news from the

:04:56.:05:03.

Advocate general we will update you. Big tobacco companies strongly

:05:04.:05:09.

arguing it is overstepping in Mark in terms of that corrective.

:05:10.:05:12.

As we have been reporting for a few months now, the oil price has

:05:13.:05:16.

This week Brent crude hit an 11 year low of

:05:17.:05:20.

around $36 dollars a barrel, oil producing nations are now counting

:05:21.:05:23.

the increasing cost of massive oversupply and tepid global demand.

:05:24.:05:25.

Later today we will find out what next year holds in store

:05:26.:05:29.

for the market as the powerful Organization of the Petroleum

:05:30.:05:31.

Exporting Countries releases its world oil outlook for 2016.

:05:32.:05:44.

Sharanjit Leyl joins me now from Singapore with the details.

:05:45.:05:48.

I suppose everyone will be poring over this document when it is

:05:49.:05:56.

released? Yes, and it is in just a few hours' time. We know they have

:05:57.:06:01.

been haemorrhaging hundreds of billions of dollars this year

:06:02.:06:03.

because of that collapse in oil prices. As you mentioned, oil prices

:06:04.:06:15.

were reaching $36 a barrel, and though they recovered slightly, it

:06:16.:06:22.

was still very low. Analysts say they expect no surprises from the

:06:23.:06:25.

report, suggesting they will continue to keep their output levels

:06:26.:06:30.

high in spite of falling prices. Essentially, they have been trying

:06:31.:06:35.

to price other reduces out of the market, such as US shale oil

:06:36.:06:44.

extractors. According to one analyst I have spoken to, this has had some

:06:45.:06:48.

success, scaling down some US shale investments. What does this all mean

:06:49.:06:59.

for Asia? Low prices are good for Asian economies, with many of the

:07:00.:07:05.

large ones facing lower import bills. We also have other oil

:07:06.:07:10.

producing nations, like Malaysia and Indonesia, who might be impacted.

:07:11.:07:16.

Traditionally they subsidise their fuel, and that Bill would be

:07:17.:07:18.

smaller. Now we have a real Christmas

:07:19.:07:26.

cracker of a story for you. When most people think

:07:27.:07:29.

of seasonal jobs they imagine working on a beach or even

:07:30.:07:31.

at a ski resort, however a number of job opportunities have come up in

:07:32.:07:35.

Brazil this festive period that you And for a country that's going

:07:36.:07:38.

through financially tough times at the moment it's providing a be a

:07:39.:07:45.

welcome Christmas present for some. TRANSLATION: IM and genuine resident

:07:46.:08:13.

of Rio de Janeiro. This is the first time I am working as a Santa Claus.

:08:14.:08:18.

My company has been downsized to eight employees, then to four, and

:08:19.:08:22.

then it was just my partner and I, so we decided to close down.

:08:23.:08:29.

Everything started to fall apart. Then this opportunity came up, and

:08:30.:08:32.

people were saying, why don't you try to be Santa Claus? You look just

:08:33.:08:37.

like him! You have his face, his beard, and his figure. Then I found

:08:38.:08:43.

that you could make up to $5,000 over the Christmas period. I

:08:44.:08:46.

realised that a lot of people who were there for the first time were

:08:47.:08:49.

looking for the same thing as me, to try to make ends meet at a time of

:08:50.:08:53.

crisis. Some of the shopping centres that used to hire Santa Claus are

:08:54.:08:58.

now using mechanical ones. I got in at the time when, you have to laugh,

:08:59.:09:04.

the crisis has even hit centre. A New Zealand court has ruled that

:09:05.:09:08.

internet entrepreneur Kim Dotcom is eligible to be extradited to

:09:09.:09:14.

the United States to face multiple Mr Dotcom who changed

:09:15.:09:17.

his surname from Schmitz, founded the now-defunct file-sharing

:09:18.:09:19.

site Megaupload where millions of US authorities say that he

:09:20.:09:22.

and others cost film studios and Nike, the world's leading maker of

:09:23.:09:26.

sporting goods has reported a 20% year-on-year rise in net profits for

:09:27.:09:37.

the three months ending November. Income for the period came to $785m

:09:38.:09:39.

while revenue was up 4% to $7.7bn. Future orders for deliveries

:09:40.:09:43.

from December to April 2016, which is a key measure for Nike,

:09:44.:09:45.

also beat expectations, boosted by strong demand from China,

:09:46.:09:48.

Japan and North America. Uber has secured

:09:49.:10:01.

a strategic partnership with the prominent Chinese carmaker

:10:02.:10:03.

Guangzhou Automobile Group. The two firms will work together

:10:04.:10:05.

in areas including investment, Uber launched in China in February

:10:06.:10:07.

of last year and is active in 21 cities in the country,

:10:08.:10:11.

with plans to be in 100 by 2017. From today, information about the

:10:12.:10:33.

quality of care homes across England

:10:34.:10:37.

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