20/09/2016 World Business Report

Counting the cost of the refugee crisis.

UN leaders gather to try to end the suffering.

We'll meet the Brits who've moved to California to try to make it big

The boss of Wells Fargo gets a grilling today

from US politicians about the banks heavy sales tactics.

We start with the refugee crisis that's dominated so much

Global leaders are in New York for a summit on how

And they've got a huge task on their hands.

The United Nations estimates that more 65 million

people around the world have been forced from the homes.

And 80% of refugees are settled in developing economies

The World Bank is calling on world powers to help

45 countries are expected to increase aid

They're also expected to focus on creating better access

Guy Ryder is the director general of the International Labour

Organisation and joins us now from New York.

Garay, I understand you are there for this refugees summit from the

United United Nations. How do countries go about finding work for

refugees, many of these countries we have discussed have got their own

unemployment crisis going on? -- Guy. You're right. Looking at

Jordan, which you mention, local unemployment in Jordan is 12 or 13%.

Now they have got the task of dealing with about 1.5 million

Syrian refugees in their midst. I think the first thing to say, and

this is really to the fore in the summit meeting in New York, is

shared responsibility. It is simply not reasonable or possible to expect

those developing countries, which, by the accident of geographical

proximity, are bearing most of the responsibility at the moment to do

it on their own. Shared responsibility is one part of the

job but practical efforts to help out these countries is another.

Labour market access we have to be clear is a fundamental effort of the

response to the refugee crisis. It is estimated that the average stay

of a refugee in their host country is 17 years. Now, those people will

work, they will find their way into labour markets one way or another.

We have to manage that access. How it is managed is critical, isn't it?

In some countries, like we have discussed, Ethiopia for example, I

know you had a report earlier this month talking about youth

unemployment. It is chronic in North Africa, almost 30%. You're

absolutely right. We have to deal with these problems in a way which

addresses the needs of local populations as well as refugees. Of

course, that's easy to say and much more difficult to do. In the case of

Jordan I think you've got the most comprehensive response. The Jordan

packed so-called involves a major international effort to mobilise

investment, the setting up of economic zones, which are going to

be coupled with relaxation of rules of origin to give Jordan Jordanian

garments in particular better access to European markets. -- Jordan pact.

The hope is you can boost the economy and pull up a refugees as

you do, but also helping the local population. The fact we are dealing

with this refugee crisis against a background of chronic global

unemployment just makes the problem worse. We really appreciate you

staying up for us in New York, Guy Ryder, director-general of the

International Labour Organisation. The boss of Wells Fargo bank

testifies before the US John Stumpf is expected to apologise

after allegations that bank employees opened up to two million

unauthorised accounts to meet It's thought employees transferred

customers' money without telling them and even created fake e-mail

addresses to sign people up We will be a cross that grilling and

we will update you when he does start to testify. -- across.

Boosting Britain's tech sector is one of the big ambitions

of the government here, so why are so many Brits

Our North America technology reporter Dave Lee has been meeting

He brings us the latest installment of our series on tech talent.

It's the gold rush people have been flocking to, to San Francisco to

find their fortune and for opportunities that simply don't

exist anywhere else. Which is why many top British tech entrepreneurs

have decided to make this city their home. I think it would have

definitely been more difficult and probably impossible to start Slack

in the UK. If you're looking for a company that could one day be as

successful as Google, Slack is a good place to start. The work

collaboration tool is valued at $3.8 billion and is one of the

fastest-growing companies in tech. If it's your first week you get a

smiley face to balloon. You are British as are many of your team,

why aren't you in Britain? The two things that would hold us back from

a large expansion into, say, London, one would be the cost, but the other

would be available talent, the appetite for risk is much lower, it

is harder to attract people to what seems like a risky job at a

start-up. Of course it is money that makes the industry tech. Last year

then to capital firms invested $60 billion into US companies. The vast

majority of it going to tech firms in Silicon Valley. In contrast, UK

companies had to share just $3.6 billion in funding. Our next fund,

which we announced earlier this year, is a cool $100 million. One of

those dishing out the cash is Andy MacLachlan, a partner at an

investment firm. It is this magical place where people have made money

and rather than disappearing into The Cotswolds like people used to do

in the UK, they are staying active in the UK system and putting that

money back in and success begat success and we saw this continual

cycle. That is a view enthusiastic Glebe backed up by Robyn, she

founded a lesbian dating app in the UK but soon moved stateside. When I

was in Europe it took me about eight months to raise $1 million. When I

came here it took me six days. There are great funds operating out of

London and as they continue to grow the tech scene it will get stronger

and stronger. I think it will take a while before one of those really big

ones starts to emerge. Some say the amount of money being spent on

start-ups here is wasteful and extravagant and an industry set to

crash again. But for now at least in Silicon Valley seems set to remain

the place for bright ideas. Dave Lee, BBC News, San Francisco.

The global boating industry is worth a staggering $120 billion

and employs more than a 250,000 people in Europe alone.

Despite its size, the sector is only now getting the wind back

in its sails after the global financial crisis.

One of the most important events in the industry's European calendar

is the Southampton Boat Show on the south coast of the UK.

You can tell from the weather, it ain't the Monaco boat show but it is

one of you rock's biggest with more than 600 votes on display, ranging

in all shapes and sizes -- Europe's. From this, the smallest collapsible

canoe at only $400 to the biggest and most expensive. Here she is, the

Princess superyacht, 30 metres long, 100 feet, and $11 million. No point

in hanging on the dockside, let's find out what $11 million can buy

you. Welcome on board, we have entered from the back of the ship

where the bar is. Thanks, Kate and. Come to the main salon, rising

television, BBC News of course. This is big business. More than 400 super

yachts were sold worldwide last year and some of the requests by some of

the owners pretty outlandish, one guy wanted a shooting range to fire

off his nine millimetre. They said no to that but yes to this, a

backlit onyx that weighs a ton. But something really phenomenal? Look at

the owner's bedroom. The master cabin, here she is, this superyacht

is 100% designed and built in Britain, in Plymouth in fact. She

has all your creature comforts, your luxury as features, the big windows

and even a skylight but I tell you what, a pretty nice ensuite --

luxurious. Here we are, three stories up, you're nobody if you

don't have a Jacuzzi on your superyacht. This is the bridge where

the boat can also be driven, but the nerve centre is down here. Take a

look at that. Come on down! OK, here we are on the bridge with the latest

technology. This ship has 37 miles of wiring and these are the cameras

into the engine room. She has the power of more than 70 sports cars.

And down here are here are the fuel tanks. $50,000 but she will save you

sale you 2600 kilometres. If I wanted to sleep on board I wonder

which suite I would get? This one down here, the one with the door

open. I can't believe it, you've got to be kidding me. I wouldn't even

fit in this bed. You know what they've done, they have stuck me in

the crew quarters. Thanks, guys! The only place to put Aaron

Heslehurst, with the crew. That's all from me for the time being. He

will join me in three hours with the boss of Sunseeker. You can see that

live in about three hours. I will see you soon.