22/02/2016 World Business Report

Now for the latest financial news with Sally

In or out? The British people have four months to decide if they want

We make sense of the case for and against.

HSBC has released it's full year results.

The banking giant made $18.9 billion last year,

but will it be enough to quell investor dissatisfaction?

Also in the programme: Samsung goes back to

The Mayor of London, Boris Johnson has announced he will campaign for

The decision is seen as a huge blow to David Cameron

and comes after EU leaders agreed a package of changes to the UK's

While many of the changes relate to migrant workers and benefits,

agreements were also reached on a number of economic policy areas.

On trade, it was agreed that Britain could keep the pound sterling

while being in the EU, without fear of discrimination due to not

There are also safeguards for Britain's large financial services

industry to prevent eurozone regulations being imposed on it.

And the settlement calls on all EU institutions

and member states to take "concrete steps towards better regulation,"

Despite the agreement, those supporting a Brexit say

the EU imposes too many rules on business and charges billions

of pounds a year in membership fees, for little return.

The referendum on whether or not Britain should remain in the EU will

So, what would Brexit mean for Britain's neighbour?

Ireland is preparing to hold commemorations to mark the centenary

of the Easter to. Dublin was an commemorations to mark the centenary

of the Easter to. Dublin was -- it was an attempt to break away from

British will. 100 years on and Britain is considering breaking away

from Europe. And if it was to do so that would have a huge impact on

Ireland, which has close links with the UK in terms of geography,

culture and of course trade. Irish brands have international appeal but

the UK is the country's biggest trading partner in Europe, which

means concerns about a potential Brexit stretch from the city to the

country. Agriculture is one of Ireland's most valuable industries.

On this land, Matthew is prepared to admit their is something to worry

about with farming. It has to be taken seriously by the government.

Do you think it would damage trade? It would have to damage it. Someone

has to pay the cost, the consumer in Britain and the farmer hearing

Ireland. The Republic of Ireland is the only country sharing a land

border with the UK. During years of violence in Northern Ireland it was

heavily policed but today it is a completely open trading route. That

is the south of Ireland and we are in the north. One company has a firm

with offices more than south of the border and manufactures products

that allows flatpack furniture to slide together. It is worried about

the possibility that the UK won't stick with Europe. For us if the can

that we would move all business into Ireland. There are businessmen who

believe the Irish relationship with the nearest neighbour is more

important than with the rest of the EU. We have to do what written does.

-- Britain. We have to get the same trading terms that Britain

negotiates. Ireland's is in the middle of an election campaign by

the economy is one of the main issues. In the months ahead there is

only so much politicians here can control. More on that story when we

look at the papers today. More analysis later.

Global banking giant HSBC has reported it's full year earnings

The company reported a ore tax profit

Although up on 2014, the numbers were significantly down on what

The banks chairman described the performance as "broadly

satisfactory" after a "seismic shifts" in the world economy.

Rico Hizon joins me from Singapore with more.

Lovely to see you, Rico. HSBC numbers are out and they seem to be

disappointing. Indeed, very disappointing, because many

investors were expecting bigger profitability. That is the bottom

line. That is what shareholders want. And it is also being squeezed.

They want more action from management, streamlining

operations, cutting pay and slashing pension payments to top executives.

It was indeed a very challenging year for the global banking giant.

The bottom line figures come after a turbulent year which saw a market

sell-off in the Chinese market is, with commodity prices lunging as

well as tightening credit due to a US rate hike -- marketings. Last

year Asia presented more than 80% of its global pre-tax profit. In 2015

the UK-based lender announced an overhaul to those profits and moved

past scandals which have tired of the bank. The restructuring included

the layoff of 50,000 jobs worldwide. The CEO of Stuart Gulliver said

those reduction measures are already having an impact on the bank. It is

now a leaner business. If you look at the numbers, despite being

better, investors are not satisfied with the stock price down three

quarters of 1% in the Hong Kong stock exchange. Thank you so much.

Most are see you, Rico. The world's phone-makers have been

gathering in Barcelona for the annual Mobile World Congress

which begins today. Samsung announced new phones last

night which it hopes will help it compete with Apple,

and also made a push into virtual reality, with a surprise appearance

on-stage by Facebook's chief Our technology correspondent

Rory Cellan-Jones reports. Here is Samsung's new flagship

smartphone, the Galaxy S7 Edge. They introduced this Edge design last

time around. They have refined it, they have made it even more curved,

they have made it more robust. You can stick it in water for

half-an-hour and it will be fine. They have brought back on-board

storage. That was a big bugbear with lots of Samsung users who wanted

that expansion capability. You've got that again now. Another bugbear

with the original Edge phone was battery life. They have massively

improved the battery life. Apart from that, what's different about

this? From Samsung, John, it looks like a very nice Android phone. What

makes it stand out? You have mentioned the design, the battery,

the micro- ST expandable memory. I could add to this the gaming, we

have a new API to deliver stunning gaming. -- SD. We have tools and the

dominant utilities to share your experience of gaming with friends.

-- tools and utilities. You have had a difficulty making the impact he

wanted. It is a difficulty making the impact he

wanted. It about capability or price quest back Chinese phones claim they

do almost as much as you do -- or price? We have introduced the micro-

SD for better memory. And we have an ecosystem of products around the

phone. It is much more than a phone. So, a bit of a snapshot of what is

going on in Barcelona at the moment, and of course the launching

of the Samsung phone. The reason Mark Zuckerberg appeared is because

Facebook are teaming up with Samsung with the oculus rift, one of

Facebook's key products. That was also happening. -- Oculus Rift.

Samsung competitors LG and Huawei have unveiled products too.

LG's flagship G5 is a modular smartphone where new parts

like a speaker or a different camera can be added to the phone.

Huawei unveiled its first personal computer,

the MateBook, which is a windows tablet with attachable keyboard.

The Chinese smartphone giant hopes it will compete with Apple's iPad

The Chinese government have removed the head

of their securities regulator as they try to tackle major

The announcement, which was made this weekend,

follows huge drops in the value of the Shanghai and Shenzhen stock

Xiao Gang was replaced by Liu Shiyu who until yesterday was the Chairman

of the Agricultural Bank of China and a former deputy governor

The pound sterling is weakening and we can understand why with the likes

of Boris Johnson saying he is for Britain leaving the EU. It has

dropped to a one-month low versus the US, sorry, speaking of the

euro, but also the US dollar. Just to show you how oil prices are

trading. The yen is weaker which has helped to trade in Tokyo. That is it

from me. I will see you soon.