Browse content similar to 11/01/2016. Check below for episodes and series from the same categories and more!
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Now, for the latest financial news with Sally | :00:00. | :00:00. | |
Fasten your seatbelts - a new trading week has begun, with shares | :00:00. | :00:21. | |
We'll be live in Singapore with the latest. | :00:22. | :00:30. | |
Staying in fifth gear after a record breaking year, how will the | :00:31. | :00:33. | |
We're at the Detroit Auto Show, where GM has done the unthinkable, | :00:34. | :00:38. | |
unveiling a chinese made car to American consumers. | :00:39. | :00:51. | |
Hello, and welcome to World Business Report. | :00:52. | :00:53. | |
Also in the programme, we'll hear from a factory owner | :00:54. | :00:56. | |
in China about how slowing trade is affecting his business. | :00:57. | :00:59. | |
It's day one of a new trading week and all eyes are on China's stock | :01:00. | :01:04. | |
At the start of day shares in Shanghai fell 2%, following weak | :01:05. | :01:08. | |
inflation data over the weekend showing consumer prices edged up | :01:09. | :01:11. | |
Sharanjit Leyl is in our Asia business hub in Singapore for us. | :01:12. | :01:23. | |
Nice to see you, Sharan. So, what's going on? Well, the benchmark index | :01:24. | :01:36. | |
in China is still low, down 2.5% right now, as you mentioned, Celek, | :01:37. | :01:45. | |
opening down 2%, reversing Friday's recovery -- Sally. The report did | :01:46. | :01:48. | |
not tell investors what they didn't already know, that China's economy | :01:49. | :01:55. | |
is slowing. There are overwhelming concerns about that. We saw the | :01:56. | :02:04. | |
other data, Factory Gate Prices, falling down mine %. It shows | :02:05. | :02:08. | |
deflation risks remain in the world's second largest economy. They | :02:09. | :02:14. | |
are rushing to sell shares and continue to do so. Perhaps also more | :02:15. | :02:21. | |
evidence of the Chinese authorities flip-flopping after the currency, | :02:22. | :02:25. | |
the yuan, strength and largely against the dollar following the | :02:26. | :02:29. | |
central bank moved to set a firm at midpoint reference rate for the | :02:30. | :02:34. | |
second session in a row. Previously, they were focused on depreciating | :02:35. | :02:37. | |
the currency in what many analysts thought was the attempt to boost | :02:38. | :02:41. | |
Chinese exports and help the slowing economy. Sally, if you were to cast | :02:42. | :02:47. | |
your mind back to the same time one week ago, that is when Chinese | :02:48. | :02:50. | |
markets were suspended from trade for the very first time after the | :02:51. | :02:55. | |
regulator had implemented those new circuit breaker rules to prevent the | :02:56. | :02:59. | |
market from falling over a certain amount. Now, we know that these | :03:00. | :03:02. | |
markets were suspended again later in the week, which caused more | :03:03. | :03:08. | |
dramatic plunges for global markets as well. China has now suspended the | :03:09. | :03:12. | |
use of that circuit breaker tool on Friday, in a move which has | :03:13. | :03:17. | |
reassured traders, but has prom to criticism over the Chinese | :03:18. | :03:22. | |
authorities' policy measures to control their markets. We will watch | :03:23. | :03:28. | |
this space. Thank you so much, Sharan. The Japanese market is | :03:29. | :03:29. | |
closed today for a public holiday. That's the picture on the financial | :03:30. | :03:32. | |
markets, but how bad is the Our team there has been talking to | :03:33. | :03:35. | |
a factory owner in Mr Yuan says he's been forced to let | :03:36. | :03:40. | |
his staff go after losing tens of thousands of dollars | :03:41. | :03:44. | |
in orders over the past year. The US car industry has just | :03:45. | :05:40. | |
finished a record year with sales So, what will it do to keep | :05:41. | :05:43. | |
the momentum going? Well, at one of the first car events | :05:44. | :05:52. | |
of the year, the Detroit Auto Show, General Motors is doing | :05:53. | :05:56. | |
the unthinkable, unveiling But US auto unions are describing | :05:57. | :05:58. | |
the Buick Envision as a slap in the face to taxpayers, who bailed out GM | :05:59. | :06:03. | |
following the financial crisis. Michelle Fleury was at the launch | :06:04. | :06:05. | |
in Detroit. This stunning Buick concept. A grand | :06:06. | :06:25. | |
entrance. General Motors knows how to make a splash. And here is a clue | :06:26. | :06:31. | |
to the night's other surprise... Several of our friends and business | :06:32. | :06:33. | |
partners from China are here tonight. We know how big a market | :06:34. | :06:38. | |
China is for US carmakers but what about the other way around? GM is | :06:39. | :06:45. | |
the first of the Detroit Three to bring a Chinese built car. The Buick | :06:46. | :06:55. | |
Envision hits US in summer. The manager of GM defended the decision | :06:56. | :06:58. | |
to keep manufacture in China. The strategy we have in the company is | :06:59. | :07:03. | |
to design, to build where we sell, that is the general strategy. In | :07:04. | :07:07. | |
this case there was no economics to do it here, and as you saw, it is | :07:08. | :07:13. | |
doing well in China. How many cars do you hope to sell in the US versus | :07:14. | :07:17. | |
how many in China? China will be much more significant. The band may | :07:18. | :07:27. | |
have been called the Accidentals but GM wasn't making a mistake importing | :07:28. | :07:33. | |
a Chinese made car. The auto analyst Michael Dunn explains why. Back in | :07:34. | :07:37. | |
2009 with the crisis, many brands went away. They held onto Buick | :07:38. | :07:40. | |
because of the profitability China and the potential to grow. So, in | :07:41. | :07:46. | |
our way, US consumers, global consumers, can thank China for a | :07:47. | :07:52. | |
prosperous Buick today -- in a way. For many here in the birthplace of | :07:53. | :07:57. | |
America's car industry, it is a slap in the face. Would you buy a Chinese | :07:58. | :08:01. | |
made car? Probably not. What about if it is General Motors? Note! It | :08:02. | :08:06. | |
was built in the US and they are shipping the cheap cars from China | :08:07. | :08:12. | |
to Detroit which is not right -- no! Chinese made? Yeah. - see a problem. | :08:13. | :08:19. | |
What is remarkable is time in a short period of time is capable of | :08:20. | :08:23. | |
building a car that can compete along those made here in Motor | :08:24. | :08:28. | |
City. The question now is how it will sit with Americans, especially | :08:29. | :08:32. | |
right here in the cradle of the US auto industry -- I don't see a | :08:33. | :08:39. | |
problem. We will have more from the shell as the week progresses there. | :08:40. | :08:46. | |
-- we will have more from there as the week progresses. | :08:47. | :08:47. | |
The latest Star Wars film has broken records in China, taking fifty-three | :08:48. | :08:51. | |
million dollars in ticket sales on its first weekend. | :08:52. | :08:53. | |
"Star Wars: The Force Awakens" has now passed the $1 billion mark | :08:54. | :08:56. | |
in global ticket sales faster than any other film. | :08:57. | :08:58. | |
Chinese state media say authorities have arrested five more officials | :08:59. | :09:01. | |
of a company involved in a deadly landslide | :09:02. | :09:03. | |
The government has blamed breaches in construction safety standards | :09:04. | :09:06. | |
for the disaster in the southern city of Shenzhen. | :09:07. | :09:09. | |
It takes the total number of arrests to 16. | :09:10. | :09:13. | |
A major shareholder in Royal Dutch Shell, | :09:14. | :09:15. | |
Standard Life Investment, says it will oppose the oil company's | :09:16. | :09:17. | |
It says weak oil prices and risks for BG in Brazil could | :09:18. | :09:21. | |
make the deal "value destructive" for Shell shareholders. | :09:22. | :09:23. | |
Shell says it remains confident of winning the vote. | :09:24. | :09:36. | |
A quick look at the market. We've mention Japan's closed, and we've | :09:37. | :09:43. | |
mentioned how Shanghai is performing. Just to mention, the | :09:44. | :09:51. | |
Hong Kong Yuan Rate has jumped 13%, the highest on record, in an | :09:52. | :09:54. | |
indication of the credit crunch following the bank of China's | :09:55. | :09:57. | |
intervention to try to stabilise markets in China. You are up to | :09:58. | :10:04. | |
date, I will see you soon -- Bank of China. | :10:05. | :10:09. |