Browse content similar to 13/01/2016. Check below for episodes and series from the same categories and more!
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with Sally and World Business Report. | :00:00. | :00:14. | |
US regulators reject VW's recall plan. | :00:15. | :00:21. | |
Its new boss is meeting with the Environmental Protection | :00:22. | :00:23. | |
We'll have the latest on the emissions cheating scandal. | :00:24. | :00:29. | |
And what is the state of the worlds biggest economy? | :00:30. | :00:32. | |
And what is the state of the world's biggest economy? | :00:33. | :00:34. | |
President Obama says the US is the strongest and most durable | :00:35. | :00:37. | |
But he calls for changes to reduce the growing income gap. | :00:38. | :00:44. | |
Also in the programme, forget the doomsayers, | :00:45. | :00:52. | |
bounce back in exports and the markets calm. | :00:53. | :00:59. | |
Rico will tell you all you need to know. | :01:00. | :01:03. | |
It's back to first gear for VW as US regulators have rejected it's recall | :01:04. | :01:07. | |
plan for cars impacted by the emissions cheating scandal, | :01:08. | :01:09. | |
saying the company's proposals are not adequate. | :01:10. | :01:15. | |
Later today, the car giant's chief executive, | :01:16. | :01:18. | |
Matthias Muller, will meet with the head | :01:19. | :01:19. | |
of the Environmental Protection Agency. | :01:20. | :01:21. | |
The scandal has severely damaged VW's reputation, | :01:22. | :01:24. | |
and it's now desperately trying to rebuild trust | :01:25. | :01:26. | |
Michelle Fleury reports from the Detroit auto show. | :01:27. | :01:37. | |
While others showed off their wares, VW's new cars took a back seat as | :01:38. | :01:44. | |
executives tried to put the diesel emissions scandal behind them. We | :01:45. | :01:49. | |
want to make this right in the American way. We will continue | :01:50. | :01:53. | |
everything in our power to make it right and to regain your trust, | :01:54. | :01:58. | |
specifically of the American public. A comment from the W's CEO declaring | :01:59. | :02:04. | |
we are not a criminal brand is unlikely to placate US officials who | :02:05. | :02:08. | |
sued them saying they hadn't produced an acceptable way forward. | :02:09. | :02:13. | |
A point the board chairman of the VW brand that test with us in | :02:14. | :02:17. | |
Detroit's. I'm confident over the next couple of weeks we will come to | :02:18. | :02:22. | |
an agreement over what we're going to do for our customers and to also | :02:23. | :02:27. | |
make the cars legally compliant. Will it involved in some cases | :02:28. | :02:32. | |
buying back cars? We will provide technical solutions for all the | :02:33. | :02:40. | |
cars, we are confident we can solve all technical issues. And waiting | :02:41. | :02:44. | |
for a fix. Brian Dickerson was appalled to learn his car was one of | :02:45. | :02:49. | |
several hundred thousand currently on American roads with software | :02:50. | :02:52. | |
installed on its diesel engine that allows it to flout antipollution | :02:53. | :02:59. | |
laws. Anger and embarrassment because I had bragged to a lot of | :03:00. | :03:03. | |
people about what a great car I had bought. Very fuel-efficient. You | :03:04. | :03:09. | |
know, my car gets more miles to the gallon manuals. But also very clean. | :03:10. | :03:15. | |
VW did not scale back its presence here in Detroit as it sought to earn | :03:16. | :03:19. | |
back the trust of American consumers. A bigger hurdle could be | :03:20. | :03:24. | |
making things right in the eyes of US officials, for whom an apology | :03:25. | :03:26. | |
will not be enough. In his final State | :03:27. | :03:31. | |
of the Union Address, President Obama has said that the US | :03:32. | :03:33. | |
is the strongest and most durable But more progress is needed on equal | :03:34. | :03:36. | |
pay, paid leave and We're in the middle of the longest | :03:37. | :03:52. | |
streak of private-sector job creation in history. (APPLAUSE). | :03:53. | :04:07. | |
More than 14 million new jobs, the strongest two years of job growth | :04:08. | :04:14. | |
since the 1990s, an unemployment rate cut in half. Our auto industry | :04:15. | :04:18. | |
just had its best year ever. That's just part of a manufacturing | :04:19. | :04:34. | |
surge that's created 900,000 jobs in the past six years, and we've done | :04:35. | :04:38. | |
all this by cutting our deficits by almost three quarters. You would | :04:39. | :04:45. | |
expect him to present a good report. Obviously he's going to say what a | :04:46. | :04:55. | |
good job he has done in terms of keeping the US economy on track. | :04:56. | :04:59. | |
What are other people saying about his legacy? Yeah. I have to say, | :05:00. | :05:05. | |
Sally, this was a very forceful and impassioned speech. It had a real | :05:06. | :05:09. | |
optimistic tone because he was basically trying to lay out his | :05:10. | :05:15. | |
legacy. As you can imagine, you had Democrats basically siding with the | :05:16. | :05:17. | |
President and lauding this speech and then you had Republicans, who | :05:18. | :05:22. | |
came out with the criticisms on the economy. As I said, he was trying to | :05:23. | :05:27. | |
lay out his legacy, so the economy played a big part in that. He laid | :05:28. | :05:32. | |
out some of the progress we had seen, the US economy getting | :05:33. | :05:35. | |
stronger since he inherited the financial crisis. But he also made | :05:36. | :05:40. | |
some concessions, and that was important. He hit hard on | :05:41. | :05:44. | |
Republicans, saying anyone who claims the economy is in decline is | :05:45. | :05:48. | |
peddling fiction. And he said why Americans are feeling anxious is | :05:49. | :05:52. | |
because the economy has been changing in profound ways and he | :05:53. | :05:56. | |
said those started before the great recession. He tried to strike an | :05:57. | :06:02. | |
optimistic tone, saying the way America was going to come out of | :06:03. | :06:05. | |
this stronger was to embrace change. He did say things needed to be done, | :06:06. | :06:10. | |
like equal pay for equal work, paid leave, raising the minimum wage, and | :06:11. | :06:14. | |
income inequality was still a big issue. One of the more poignant | :06:15. | :06:19. | |
sound bites was when he said food stamp recipients didn't cause the | :06:20. | :06:23. | |
financial crisis, recklessness on Wall Street did. Immigrants aren't | :06:24. | :06:27. | |
the reason... Boardroom decisions make quarterly earnings over | :06:28. | :06:32. | |
long-term returns. We have statements he has made to the | :06:33. | :06:40. | |
public. Thank you so much. A quick response in terms of that speech. | :06:41. | :06:47. | |
More online. Let's go from the world's biggest economy to the | :06:48. | :06:48. | |
world's second-biggest. Chinese exports defied | :06:49. | :06:50. | |
expectations in December, rising 2.3% from a year ago | :06:51. | :06:59. | |
in yuan denominated terms and economists say it is a weaker | :07:00. | :07:02. | |
currency that has helped fuel demand Rico, is this a blip | :07:03. | :07:05. | |
or a sign of things to come? Well, Sally, for now this is a rare | :07:06. | :07:24. | |
bright spot for the economy and it has calmed investors' nerves. As for | :07:25. | :07:30. | |
sustainability, it remains to be seen if this will continue in the | :07:31. | :07:34. | |
month of January and in the first quarter of 2016. China's authorities | :07:35. | :07:40. | |
lowering the value of the currency in recent weeks and months, making | :07:41. | :07:45. | |
exports more competitive on global markets. Analysts say the | :07:46. | :07:50. | |
depreciation of the currency, 5% since August, has helped with | :07:51. | :07:55. | |
exports. Overseas demand also strengthening with increasing new | :07:56. | :07:59. | |
export orders, but it is still uncertain whether the recovery is | :08:00. | :08:04. | |
sustainable. Imports fell 4%, an improvement on the decline in | :08:05. | :08:08. | |
November. The December trade surplus jumping almost 25%. Better than | :08:09. | :08:15. | |
expected numbers calming sceptical investors and stabilising the | :08:16. | :08:19. | |
Shanghai and Shenzhen stock markets this Wednesday. The bigger test is | :08:20. | :08:24. | |
when the fourth-quarter data and annual growth is released next week, | :08:25. | :08:28. | |
and that is when we will find out the kind of growth we are seeing in | :08:29. | :08:33. | |
China in 2015 and whether or not we are seeing its slowest growth in 25 | :08:34. | :08:39. | |
years. Sally. We have a week to prepare for that. Thanks for that. | :08:40. | :08:46. | |
Rico, good to see you. Oil is trading just above $34 a barrel at | :08:47. | :08:48. | |
12 year lows. On Tuesday Brent crude | :08:49. | :08:51. | |
fell as low as $30.34, while the US benchmark, | :08:52. | :08:53. | |
West Texas Intermediate briefly fell below $30 a barrel | :08:54. | :08:56. | |
before recovering. Prices have fallen sharply | :08:57. | :08:57. | |
in volatile trading over the past week as oversupply persists | :08:58. | :08:59. | |
amid weak global demand. UK oil firm BP has announced | :09:00. | :09:04. | |
it is cutting 4,000 jobs It comes as profits continue | :09:05. | :09:07. | |
to suffer as a result BP said all the job losses | :09:08. | :09:11. | |
would occur in its oil exploration Meanwhile, Brazil's oil giant, | :09:12. | :09:15. | |
Petrobras, has announced a massive scale back of its investment plans | :09:16. | :09:25. | |
thanks to the lower commodity price. Petrobas will reduce | :09:26. | :09:32. | |
investment by $32 billion, that's 25% over | :09:33. | :09:33. | |
the next four years. That's a very significant sum. | :09:34. | :09:47. | |
Today, oil prices going up. Let's look at the markets in general. | :09:48. | :09:54. | |
Brent crude up just 5.6% -- 0.6%. Japan and Hong Kong trading much | :09:55. | :09:58. | |
higher. The night before was a strong rally on Wall Street as well. | :09:59. | :10:02. | |
Basically markets in Asia are coming off a three-year low off a very | :10:03. | :10:07. | |
torrid start to the year. I'll see you soon. | :10:08. | :10:19. | |
A 24-hour strike by junior doctors in England will end at 8am | :10:20. | :10:21. | |
Despite the cancellation of thousands of operations | :10:22. | :10:24. | |
and appointments, NHS England said hospitals were coping well | :10:25. | :10:26. | |
and patients were not being put at risk. | :10:27. | :10:28. | |
But another stoppage is planned in two weeks' time and attempts | :10:29. | :10:31. | |
are being made to prevent the action. | :10:32. | :10:34. |