18/10/2016 World Business Report

Sally is sitting right next to me. You can't see her yet.

The French capital attempts to romance business away from London

Shares of Netflix have surged 20% in after hours trading as market

watchers binge on the streaming giant's skyrocketing membership

In a minute, we'll have the latest on the gold plated carrot that

Hollywood directors are being offered to make

It is no secret that Paris is trying to woo business away from London

after the Brexit vote in June raised questions about the future dominance

of London as Europe's financial capital.

Reads the ad that La Defense business district in Paris hopes

There are warnings the city of London could lose

its position as the only financial capital to rival New York,

if foreign banks decide to move across the channel.

London currently accounts for 41% of global foreign exchange

turnover, that is more than double New York,

so says the Bank for International Settlements.

About 85% of Europe's hedge fund assets are managed

in London, which also happens to be the leading market for international

Frankfurt is putting itself forward as a "financial services bridge"

between London and the European Union.

And so are several other cities in Europe.

With me now is Marie-Celie Guillaume the Chief Executive of Defacto,

who manage La Defense, the business district of Paris.

Good morning. Good morning. Welcome to the programme. We saw the poster,

which will grab everybody's attention. Why does Paris have the

aid? Paris has the best business edge. We have the best combination

of both soft and hard factors. The Paris business district, La Defense,

is the first European business district with a lot of offers

capacity. We are able today to have new staff members if they decide to

come to Paris. We have a thriving business ecosystem which is very

international. Half of the 500 companies based in La Defense are

international. 35% of them are already working in banking and

finance. Many of the business leaders I talk to, and some in

financial and legal services, who are thinking about relocating, are

not considering Paris, they are thinking of Dublin, Frankfurt, even

Luxembourg. France is not on their radar because of how stringent the

labour laws are and how difficult it is to do business compared to other

European cities. It is not difficult to do business in France. For

instance, the Paris region is the best region for start-ups. It is a

known fact that the labour laws are very draconian compared to other

cities. They are. It will change this year because the labour laws

were changed before the summer. Today, there is a wide understanding

and consensus between the Socialist Party and the Conservative Party

that things have to be more flexible for high salaries and basically the

financial jobs in order to be able to hire them quickly and fire them

quickly. What about the fear factor as well. People considering

security. France has had a very difficult couple of years and is

terrible tragedies in Paris and other cities as well in and around

France. Have you thought about that in your campaign to bring people to

Paris? Seriously, we think that terrorism is a problem.

Unfortunately it is everywhere, in every capital. And not even in just

the capitals, it can happen in any small town. It is a problem that

every city is facing. And in terms of your hope to ring in people, how

will you compete with the likes of Frankfurt? What is your selling

point? Where would you rather live? Paris or Frankfurter? It is not only

living, but good healthcare, education for children, equality,

Paris has all of that. All right. We have run out of time. But thank you

so much for coming in. And we shall see what happens and we will see

where everyone goes and report on it if and when it happens.

Netflix has shaken off growth worries with new subscriber numbers

that beat estimates and sent its shares soaring.

The video streaming company added 3.2 million international customers

in the last three months, far more than the two million

In the US, numbers rose 21% to 370,000 as hit shows such

as Stranger Things and Narcos one over more subscribers.

It helped quarterly revenues rise 31.% to $2.29bn,

sparking a 20% jump in Netflix's share price in after hours trading.

The company also that it plans to license content to existing

on line service providers in China rather than operate its own service

Our New York business correspondent, Samira Hussain, has the details.

After the last few quarters of disappointing subscriber growth,

investors are quite pleased with the latest results from Netflix. They

have been able to dramatically increase their users, both

internationally and here in the. So the question is, what is behind all

of this? A big part of the story has to do with original content. Netflix

has been creating its own television shows and series. And that has been

something that has been bringing a lot of users to the streaming

service. So what can we expect from them going forward? Well, with

regards to original content, Netflix has said that by 2017 they want to

be able to stream 1000 hours of original content. So that is really

great for those who are subscribing or who want to subscribe. But, flex

is still going to be facing some stiff competition from the likes of

Amazon, who are also creating original content, and from streaming

sites like Hulu. -- Netflix. This is a step in the right direction. And

if you look at results, investors are really happy. Samira Hussain,

BBC News, New York. Now here's a financial offer that

already sounds like its already had Dalian Wanda, the Chinese

media and property giant, has done a deal with the country's

government to offer a 40% tax rebate to lure US filmmakers

to use its new studio in eastern The offer is the brainchild

of the Wanda group Chairman, and China's richest person,

Wang Jianlin who has already snapped up the production company behind

films including "Interstellar" and "Jurassic World" in his quest

to put the Chinese entertainment Mariko Oi joins us

now from Singapore. Let us talk to her. It is nice to

see you. It would seem that Dalian Wanda is on a mission and is trying

all different ways to get Hollywood. That is right. The company has been

making news headlines quite often lately, not just with the investment

in the US, but also in the UK as well. These moves have also raised

concerns among some US loss -- lawmakers over China's increasing

investment in Hollywood affecting the US media. But after the latest

offer of a 40% discount, Hollywood producers want to film in their

studios in China, he said this is an opportunity for Hollywood, not a

competition, repeating that he is doing this as a businessman, and it

does not come with a political twist. He also emphasised how

China's box office market is growing rapidly. You actually predicted it

could match the biggest market in the US by 2018, and in order to

succeed in China, he said, those films have to have Chinese elements,

filming these films in their studios in China will be a great way to do

this, he said. I am sure we will have more news soon. Great to see

you. Thank you. And there appears to be something

in the water CEO's are drinking because two major bosses have

announced that they're Caterpillar CEO and Chairman,

Doug Oberhelman, will retire The company has seen a large decline

in sales in recent years, triggered Meanwhile, the CEO of Visa,

Charlie Scarf, says he is resigning after four years because he finds it

to difficult to see his family who live on the opposite side

of the country to San Francisco The former president

of American Express, Alfred Kelly, will replace him at the end

of the month. That is all from World Business

Report. I will see you in a moment when we review the