Browse content similar to 14/03/2016. Check below for episodes and series from the same categories and more!
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The Alternative for Germany party, the AfD, has won seats | :00:00. | :00:00. | |
Those are the latest headlines from BBC World News. | :00:00. | :00:00. | |
Now for the latest financial news with Sally | :00:00. | :00:00. | |
Russia's energy minister is in Tehran to talk oil. | :00:07. | :00:18. | |
But will he be able to persuade Iran to join a freeze on production, | :00:19. | :00:24. | |
just months after crippling sanctions were lifted? | :00:25. | :00:25. | |
America's top transport official backs Google, | :00:26. | :00:27. | |
saying its self-driving car crash last month was not a surprise, | :00:28. | :00:30. | |
Also in the programme: There is more gloomy news about the Chinese | :00:31. | :00:48. | |
economy, and Moody's warns political risk has risen in Hong Kong. | :00:49. | :00:51. | |
Russia's energy minister is due to begin talks | :00:52. | :00:58. | |
in Iran over a potential deal to freeze oil production levels. | :00:59. | :01:01. | |
Last month, a group of countries led by Russia and Saudi Arabia agreed to | :01:02. | :01:04. | |
keep a ceiling on oil output, but only if other producers follow | :01:05. | :01:07. | |
Initially oil prices slipped after the announcement, | :01:08. | :01:12. | |
From record lows of $27 a barrel in mid-January, | :01:13. | :01:18. | |
oil has been steadily climbing, and is now above the $40 a barrel mark. | :01:19. | :01:22. | |
The International Energy Agency says prices have recovered remarkably in | :01:23. | :01:24. | |
the past few weeks, and that lower production in the US is helping to | :01:25. | :01:28. | |
But it is highly unlikely Iran will freeze its production right now. | :01:29. | :01:36. | |
Its Opec envoy described a move as illogical, reportedly saying the | :01:37. | :01:39. | |
country will increase output until it reaches pre-sanctions levels. | :01:40. | :01:41. | |
With me is Richard Mallinson, geopolitical analyst at | :01:42. | :01:43. | |
Good morning, Richard. So how are these talks going today, do you | :01:44. | :02:07. | |
think? Iran definitely wants OPEC to do something to support the price, | :02:08. | :02:11. | |
like all oil producers it has been suffering from low prices at its | :02:12. | :02:15. | |
focus is on bringing production back. It has just had sanctions | :02:16. | :02:19. | |
lifted and the last thing it wants to do is committed to keeping | :02:20. | :02:23. | |
production at what it sees as unreasonably low levels compared to | :02:24. | :02:28. | |
Saudi Arabia and Iraq. And what is Iran producing, as far as we know? | :02:29. | :02:32. | |
There is conflicting data out there, isn't a? There is, the last few | :02:33. | :02:37. | |
months we have seen exports pick up to around 3 million barrels a day | :02:38. | :02:41. | |
compared to around 2.8 million a few months ago but a lot of the numbers | :02:42. | :02:45. | |
which are coming out are very unreliable. We don't know how much | :02:46. | :02:48. | |
of the oil they are currently selling is coming out of tanks and | :02:49. | :02:53. | |
how much is additional pumping from their fields. And just explain the | :02:54. | :02:58. | |
shift in the oil price. Is it as simple as saying we have seen it | :02:59. | :03:02. | |
steadily rise because of the Russia Saudi Arabia discussions in | :03:03. | :03:07. | |
February? I think all the talks and headlines over the last few weeks | :03:08. | :03:11. | |
have helped change the mood at what has really underlined the | :03:12. | :03:15. | |
improvement in prices has been the fact that non- OPEC supplies are | :03:16. | :03:19. | |
starting to fall because of lower investment, lower spending by oil | :03:20. | :03:22. | |
companies, we are seeing the results show up and that is going to | :03:23. | :03:29. | |
rebalance the market. So what is Energy Aspect saying about the price | :03:30. | :03:34. | |
of oil? At the beginning of the year there was a real diversity between | :03:35. | :03:39. | |
$6 a barrel and $60 a barrel. Your thoughts? There are so many views | :03:40. | :03:44. | |
out there at the moment. I think given the rally we have seen we are | :03:45. | :03:49. | |
back to about the right levels for the current market conditions and | :03:50. | :03:51. | |
that probably sees us through for a few months but in the second half of | :03:52. | :03:54. | |
the year I would expect that tightness to really start showing | :03:55. | :03:58. | |
through and prices to rise further past $60 a barrel by the end of the | :03:59. | :04:03. | |
year. Thank you for giving us your take on that. We will keep a close | :04:04. | :04:07. | |
eye on the talks going on in Tehran. Any news coming out of those | :04:08. | :04:09. | |
we will update you. The US ratings agency Moody's has | :04:10. | :04:11. | |
downgraded Hong Kong's outlook to negative, as the territory's | :04:12. | :04:14. | |
political and economic links with Nice to see you. Just fill us in on | :04:15. | :04:27. | |
this news that emerged over the weekend. That's right, Sally. Hong | :04:28. | :04:33. | |
Kong officials are shaking their heads with disappointment by this | :04:34. | :04:38. | |
downgrade by Moody's, and immediately today, they swiftly | :04:39. | :04:45. | |
defended the territory's policy framework for the metals. A | :04:46. | :04:49. | |
government spokesman described the assessment by Moody's as totally | :04:50. | :04:53. | |
wrong and its view from the mainland in the city's policy formulation | :04:54. | :04:58. | |
speculative and subjective. But if you take a look at the report by | :04:59. | :05:02. | |
Moody's, the ratings service said the strong political link in bed at | :05:03. | :05:06. | |
in the one country, two systems policy creates the risk that they | :05:07. | :05:10. | |
will lose some of their independence as China's influence continues to | :05:11. | :05:17. | |
grow. This it said would negatively affect policy effectiveness and | :05:18. | :05:22. | |
credibility in Hong Kong and weak in its institutional strength relative | :05:23. | :05:26. | |
to the mainland. When you speak to analysts they say that Hong Kong is | :05:27. | :05:31. | |
very exposed to any deterioration in China, given that about 60% of the | :05:32. | :05:35. | |
city's bank credit goes to mainland borrowers. With all this fact is now | :05:36. | :05:39. | |
out, we will have to wait and see, Sally, if Rival rating houses SNP | :05:40. | :05:45. | |
and Fitch will follow the weak lead of Moody's -- S | :05:46. | :05:52. | |
In other news: China's industrial output has slowed to | :05:53. | :05:55. | |
its weakest growth since the financial crisis, fuelling | :05:56. | :05:56. | |
Production rose by 5.4% in January and February, the worst since 2008. | :05:57. | :06:03. | |
The Bank of Japan has started its two-day policy meeting. | :06:04. | :06:05. | |
In a surprise move in January, the central bank adopted negative | :06:06. | :06:08. | |
interest rates for some deposits, in an attempt to encourage Japanese | :06:09. | :06:11. | |
Later this week the Federal Reserve and the Bank | :06:12. | :06:15. | |
The International Monetary Fund has suggested it supports | :06:16. | :06:21. | |
the decisions of Japan and Europe to introduce negative | :06:22. | :06:23. | |
IMF chief Christine Lagarde says unconventional monetary | :06:24. | :06:26. | |
policies should continue if they are accompanied by structural | :06:27. | :06:28. | |
Huge but peaceful protests have been taking place in cities across | :06:29. | :06:40. | |
Brazil, to demand the resignation of President Dilma Rousseff. | :06:41. | :06:42. | |
The opposition accuses her of mishandling the economy | :06:43. | :06:44. | |
and involvement in a massive corruption scandal, which has also | :06:45. | :06:46. | |
Last month Google revealed that one of its self-driving | :06:47. | :06:59. | |
The incident highlighted just one of the fears people have | :07:00. | :07:03. | |
about autonomous vehicles, the other being that cars without drivers | :07:04. | :07:05. | |
Our North America technology reporter Dave Lee spoke to the US | :07:06. | :07:10. | |
transport secretary about the impact self-driving | :07:11. | :07:11. | |
I think there is no question that driverless technology presents a lot | :07:12. | :07:33. | |
of potential for disruption on a number of fronts. And it is unclear | :07:34. | :07:39. | |
to me now exactly how that future unfolds. What I do know is that we | :07:40. | :07:45. | |
have the potential to reduce 80% of the crashes and accidents that | :07:46. | :07:49. | |
occur. That is not to say that there won't be disruptions along the way. | :07:50. | :07:55. | |
Recently the Google car crashed into a bus and it was the first time that | :07:56. | :08:00. | |
Google accepted that it was the fault of the on-board computer, that | :08:01. | :08:03. | |
it made the wrong call in pulling out on that bus. Is that a setback | :08:04. | :08:10. | |
for the tech ology? Well, it is not a surprise that at some point there | :08:11. | :08:16. | |
would be a crash. -- technology. Of any technology that is on the road. | :08:17. | :08:20. | |
But I would challenge one to look at the number of crashes that occurred | :08:21. | :08:24. | |
on the same day that were the result of human behaviour. I think the | :08:25. | :08:28. | |
question here is and comparing the automated car against perfection, I | :08:29. | :08:33. | |
think it is a relative comparison to what we have now on the roads, which | :08:34. | :08:38. | |
is you and I and our eyeballs. Whenever we do a story about | :08:39. | :08:42. | |
driverless or self driving cars everyone says but I love driving, I | :08:43. | :08:46. | |
love to be out on the open road. How do you feel about that, personally? | :08:47. | :08:51. | |
I think there will be an appetite for those of us who have grown up | :08:52. | :08:55. | |
driving vehicles to continue to have fun doing that, but no, my kids | :08:56. | :09:00. | |
don't know what a typewriter was. This generation of kids doesn't | :09:01. | :09:05. | |
remember what it was like the role of a window in a car because all | :09:06. | :09:09. | |
cars have automatic Windows today -- to roll up a window. Quite | :09:10. | :09:17. | |
interesting cars have automatic Windows today -- | :09:18. | :09:17. | |
to roll up a window. Quite interesting to hear his take on the | :09:18. | :09:21. | |
future for cars. Looking at market is very briefly, the week started on | :09:22. | :09:24. | |
a bullish note following a strong close in Europe and the US on | :09:25. | :09:28. | |
Friday. Lots of Central Banks meeting this week, the bank of | :09:29. | :09:33. | |
Japan, the Federal reserve, the Bank of England, and there is a lot of | :09:34. | :09:36. | |
momentum behind the thought about what central banks will do the best | :09:37. | :09:41. | |
global economy. So it is all about getting back into markets this week, | :09:42. | :09:46. | |
it would seem so far so good. Japan closes in around about 20 minutes' | :09:47. | :09:51. | |
time. That is it from World Business Report. Stay with us, you are with | :09:52. | :09:53. | |
BBC World News. The High Court is expected to decide | :09:54. | :10:02. | |
today on a legal challenge from the Government, seeking to ban a one-day | :10:03. | :10:05. | |
strike tomorrow by sixth-form Ministers say the dispute, | :10:06. | :10:08. | |
which is about the funding of colleges, is political, rather | :10:09. | :10:11. | |
than being a genuine trade dispute. | :10:12. | :10:15. |