10/01/2017 World Business Report

The newspaper review after World Business Report.

Handing on control of the world's biggest economy.

As Barack Obama prepares to say goodbye we look at what he's

The cost of China's raw materials is going up faster than it has

wait for it - it's important because it could mean the rest of us

- the rest of the world - paying more for the stuff

Stay where you are I have about nine! Nine minutes, it is all I am

asking for an eye promised to deliver an exciting snapshot of

business. There are just a couple of weeks

of Barack Obama's presidency remaining and later today

he gives his big farewell speech. As well as being commander in chief

he's also overseen the world's biggest economy for

the last eight years. Well more than 11 million more

jobs have been added with the unemployment rate

falling from 7.8% to 4.7% But what the typical American family

brings home has barely changed at nearly $54,000 a year once

you adjust for inflation Pretty much the same as it has been

for 20 years. And the economy has grown about 1.5%

a year over the course It compares to about 2%

under his predecessor One of the costs of that has

been that US Government debt has nearly doubled from $10

trillion to $20 trillion. From New York Michelle Fleury

sent this report. Wall Street is left reeling from

some of the biggest blows. It is a nightmare. Bunker C Bower louts and

nine employment that peaked at 10% in 2009. When Barack Obama became

president, he had seen were fighting the total collapse of the financial

system. 15 million Americans were out of work when he delivered his

first state of the union address. People are out of work. They are

hurting. They need our help and that is why jobs must be our number one

focus in 2010. Perhaps his biggest achievement, stopping the recession

from turning into another Great Depression and it started with the

rescue of a symbol of US industrial might stash the American car

industry. Some this investment banker remembers it well. He led the

auto industry recovery. It was is in parsing that that in fact he made a

decision that was unpopular but was clearly, in retrospect the right

decision. If we had allowed those car companies to continue to

liquidate, the loss of many jobs at a time when the economy was ready

losing so many jobs. Government involvement did not end with the

auto industry. An unprecedented amount of money was spent to

stimulate the economy. $4 million made its way to the Bronx community

Centre, saving 15 jobs. Not everyone was a fan of the stimulus plan. We

were. We were great fans because it allowed us to really and hands our

relations. Under President Obama, staggering 11 million jobs have been

created to stop while hiring has picked up, many of those positions

are temporary or part-time, not the kind of work you can raise a family

on which is why many people I spoke to were gloomy. Do you feel more

hopeful than eight years ago? So-so. Prices are up and salaries remain

the same. President Obama has the longest job growth in history but

many Americans have forgotten what prosperity feels like. The challenge

facing the incoming administration. We've had some numbers out of China

which show that the world's second biggest economy could be

about to push up the prices of the things the rest of the world

is buying from them. Let's go to Rico Hizon whose in our

Asia Business Hub in Singapore. Leeson, people watching will be

thinking how can China make us pay more? Absolutely. Even your socks,

your shirts and suits could be more expensive by next week because with

higher prices from the mainland at this could lead them to export

inflation to nations around the world through its supply chain as

manufacturers are squeezed by higher input costs and in turn raise asking

prices, raw materials, anything because China explores a lot of

things around the world and this could put pressure on monetary

policies and lead to higher interest rates. It could impact growth rates

not only in Asia but around the world which is ready been affected

by the global economy. It is good news for the Chinese economy because

they may be turning the corner but whether that rebound in China will

be sustained edges on how the global economy fares under a Donald Trump

administration. Watch this space. 2017 will be an important year for

the Chinese and US economy. Thank you so much for explaining that. If

the price is now up is OK if our wages go up. But that ain't going to

happen on the BBC, I can tell you. It is the cruise industry, 25

million people expected to cruise this year and an increasing number

are from Asia. One of the biggest cruise liners, Carnival, is hoping

that will allow it to dock more profits... JJ my producer wrote

this, by the way, I did not. We caught up with the boss of Carnival.

Take a look. A red carpet welcome for every guest. This is the

seaborne encore docking in Singapore for the very first time. Cruising is

still relatively new in Asia, it is seen as a holiday for retirees and

mass passengers are from the US, Europe or Australia. This chip

according to the company that owns it is one of the most like Sirius

and it is on its maiden voyage to Asia-a massive market. China has

become a particular focus, despite the fact that economic growth is

slowing down. Asia is a huge market and a large portion is an

penetrated. China. Some people estimate tourists in China could be

the largest. Plus the rest of Asia is growing. Australia is one of the

fastest growing market, growing 20% a year for many years. The youth

field you have kind of missed the boat, so to speak a cunning into

Asia now? It is almost... It almost is not matter. You can produce so

much capacity. Even though thinks may be slowing, there are many, many

people who can still cruise and will cruise who have not. But it has not

all been this -- smooth sailing. Carnival was accused of washing its

hands of the disaster and spent years trying to build back its

reputation. We learnt something from it, examining it closer. We learnt

from any incident that happens anywhere in the world. Since that

time we have advanced the number of safety systems on ships which we do

on a continuous basis anyway. Safety concerns did not appear to be

dampening prospects, at least a dozen new ships are set to hit the

sea this year and profits are soaring at finding new and younger

passengers, willing to take a cruise is likely to be a challenge.

Two prototype models of a highly-anticipated gaming

laptop have been stolen at the Consumer Electronics Show

They belong to the gaming company Razer and each has three 4K screens

- its' the first portable laptop of its kind.

Razer said the devices were taken from its press room on Sunday.

And the Chief Executive Min-Liang Tan said they were treating the case

Don't forget you can get in touch with me and some of the team

Concerns have been raised about the care of transgender

prisoners, following four deaths in little more than a year at jails

A report from the Prisons and Probation Ombudsman says prison