27/09/2016 World Business Report

Plenty more on this to come but now it is time for World Business

Report. The great debate -

US presidential hopefuls Hilary Clinton and Donald Trump have

gone head to head in the first televised debate but how important

was the economic message? And Britain's first import

of fracked gas from America is due to arrive in Scotland in the next

few hours amid fierce debate about the future of

fracking in the UK. Also in the programme:

"Not too big to fail." Angela Merkel says Germany will not

come to the rescue of Deutsche Bank Deutsche shares sank

again on the comments. So, we've had the first debate,

and it started with the state of the US economy, with both

candidates putting forward their competing visions for how

they would guide the way ahead. Michelle Fleury watched

the debate for us in New York. So, Michelle, looking at financial

markets, interesting. We have the Mexican Peso rising. Gold and the

Japanese yen falling. Give us your take on what they had to say about

the economy. Well, it was interesting. The debate started

immediately on how to create prosperity in America. And right out

of the gate you saw Donald Trump going on the offence if, Sally. He

attacked Hillary Clinton on trade. He blamed the flight of jobs to

China and to Mexico for America's economic struggles. Many people

commented that, actually, his performance was uneven through the

course of the 1.5 hours but when it came to trade he sounded quite

confident. This is a major topic for the Republican presidential

candidate. It resonates very well with white working-class voters in

the rustbelt. One particularly effective line

was when he referred to her long career on the American political

scene, saying she'd been doing this for 30 years but hadn't

come up with solutions When Clinton started talking

about how well the US economy did under her husband in the '90s,

Mr Trump jumped on it, describing the economic devastation

he'd seen in declining manufacturing regions and blaming the North

American Free Trade Agreement, You go to our higher, Pennsylvania,

you go anywhere you want, Secretary Clinton, and you will see

devastation -- you go to Ohio. NAFTA is the worst trade deal ever signed.

And now you want to approve the TPP. You were in favour of it. And then

you heard when I said how bad it was and you thought you couldn't win

that debate. You know that if you did win you would approve that and

that would be almost as bad as NAFTA but nothing would ever top NAFTA.

So, Michelle, tell us a little bit about how she reacted to that - what

was a counter argument? It was interesting. On the one hand you

have Donald Trump, who thinks the way to create prosperity in America

is to address unfair trade. You have heard the clip, him talking about

some of his criticism. Hillary Clinton offered

a different view. She believes inequality

is about jobs and focussed on the economic struggles

and experiences of middle-class She promised to push

policies to assist them, She also needled Donald Trump,

saying he was born wealthy and that he wants to help wealthy

people like himself. She accused him of supporting

an extreme kind of trickle down economics, warning that

the across-the-board tax cuts he was proposing would not

help the US economy. We need to have smart, fair trade

deals. We also, though, need to have a tax system that rewards work and

not just financial transactions. And the kind of plan that Donald has put

forward would be trickle-down economics all over again. In fact,

the most extreme version of the biggest tax cuts for the top % of

the people in this country that we have ever had. I call it trumped up

trickle-down because that is exactly what it would be - that is not how

to grow the economy. Taken as a whole, both candidates

played directly to type. Hillary Clinton tends to give

detailed, wonky answers. We have seen that on the campaign

trail. Just take her ideas on jobs,

equal pay for equal work, Donald Trump tends to go

to descriptions of problems, painting an apocalyptic message,

jobs going abroad, decaying infrastructure but not offering much

detail in terms of policy ideas. OK, thank you so much, Michelle,

watching that debate from New York. We will have a lot more on that

honour we will look at how the media has reacted to that debate -- we

will have a lot more on that. Let's have a look at some other business

stories right now. The first shipment of fracked US

shale gas is set to arrive in the UK today and bringing

controversy in its wake. A ship belonging to the chemical

company, Ineos, is due to arrive in Grangemouth Scotland

and with it some 27,500 cubic This shale gas shipment is part

of a two billion dollar investment by Ineos with eight tankers

creating a virtual pipeline Ineos says US shale will

"complement" the dwindling supplies But critics argue importing ethane

and other gases made no sense when there were known reserves

already under the ground in Britain. With me is Richard Mallinson,

geopolitical analyst at research Good morning, Richard. It is nice to

see you. Talk us through this. It is a very symbolic arrival in the next

few hours, isn't it, and the man behind Ineos came up with the master

plan which, literally, is rescuing Grangemouth, isn't it? That is the

aim, they took supplies from the North Sea but there is less and less

of the specific chemical they need, ethane, so it is turning to the US

where they have had the shale gas revolution, where we have had the

liberalisation of export laws, and it is trying to find a way to make

the economics work to bring the gas across, process it in the existing

plant but it will face a lot of competition from plants that don't

need to pay the big transport costs. So, does it work, do you think? I

mean, a ?2 billion investment in this project over the next five

years in Grangemouth. Is it financially viable? That is the

really big question, that is what we're gonna have to see. Ineos is

confident that it can make it work and they made the case when the

future of the plant was in doubt not long ago. But it faces big plants

that are starting in the Middle East which have subsidised or very low

cost input. It has plants in the US, which benefit to being closer to

this production, and then it opens up the debate about, does the UK and

allow more fracking, which of course is very politically controversial.

Extremely controversial. Many are protesting that in the UK, and yet

the previous Government was pushing it along. Also as well, the shale

industry in the US is under so much financial pressure, isn't it, with

the price of oil falling dramatically. Many producers have

found it difficult in the US, haven't they? That is right, which

could be a curveball for Ineos, which started the process when it

looked like US production was on an upward trajectory, but now with low

investment we have seen the production declining. I think if oil

prices and gas prices can rally, then they could start drilling more

and we could see more production but the risk comes that if the supply is

dwindling in the US, one of the places, one of the cost input for

Ineos might be higher than anticipated. OK, thank you, Richard,

for coming in, and that is a big event taking place in Grangemouth

today. Now, a story in the financial press, all over the newspapers, like

the Financial Times today, Deutsche Bank.

Shares in Deutsche Bank have closed down

7.54% to a new low after a weekend report said Chancellor Angela Merkel

Concerns have been raised about its financial health

and the bank's shares are down more than 50% this year.

German media reports claim Angela Merkel would not get involved

in its dispute with the US over a $14 billion bill

regarding the sale of mortgage products.

We will keep an eye on how that stock trades when the markets in

Germany opened later today. The Walt Disney and Microsoft

could both be joining a list of potential suitors for Twitter,

according to media reports. Twitter shares were up more than 2%

at $23.36 in after-market trading. The microblogging service has

reportedly started talks with a number of technology

companies to sell itself, Disney is said to be working

with a financial adviser to evaluate So, financial markets. Risk appetite

is around following the debate. Oil has gone down, as has the Japanese

yen, falling versus the dollar. The Mexican Peso is higher. Gold is

retreating as well. That is a quick look at markets in Asia. That is all

from me for now but I will see you very soon as we look through the

media reaction to that great debate - see you in a minute.

Sam Allardyce used his role as England manager to negotiate

a ?400,000 deal and offer advice on how to 'get around' player

transfer rules, an undercover investigation by the Daily Telegraph

He's not yet responded to the allegations.