:00:00. > :00:00.including rape. The jury has been told to judge the
:00:00. > :00:16.man and not his character. Now time for the latest business
:00:17. > :00:20.news. Grounded. Japan airlines suffers a
:00:21. > :00:28.new battery problem on one of the Boeing 787 aircraft.
:00:29. > :00:34.This is the biggest industry event. At one particular group will not be
:00:35. > :00:39.attending. -- but. Welcome to Asia Business Report.
:00:40. > :00:46.Japan airlines has grounded one of its early 787 Dreamliner aircraft
:00:47. > :00:52.after it detect with white smoke outside the plane caused by a
:00:53. > :01:00.battery issue. The incident comes nearly one year after Japan airlines
:01:01. > :01:04.and Nippon Airways grounded their fleets after two batteries
:01:05. > :01:11.overheated on two planes. There was a worldwide grounding of the fleet
:01:12. > :01:16.which went on for three months. We will now go to Tokyo and get the
:01:17. > :01:23.latest from our correspondent. Bring us up to date. As you said, this was
:01:24. > :01:27.noticed yesterday afternoon in Japan when an inspection of a Japan
:01:28. > :01:31.airlines 787 was taking place before a flight to Thailand. During the
:01:32. > :01:38.inspection, the engineers noticed smoke coming from somewhere. They
:01:39. > :01:43.went to investigate. Alarms went off in the cockpit saying the source was
:01:44. > :01:48.the battery. They found that one of the eight lithium ion batteries
:01:49. > :01:54.appear to have overheated and melted. It looks like it was very
:01:55. > :02:00.similar to the problems that caused the grounding last year. At the same
:02:01. > :02:05.time, the company is as saying that this shows the updated design, the
:02:06. > :02:15.containment system, work and that the problem did not spread. Never,
:02:16. > :02:20.new safety concerns. This is going to highlight issues. What it really
:02:21. > :02:26.points to is that Boeing has still not got to the root of this battery
:02:27. > :02:31.problem. We are a year on from the first incident and an investigation
:02:32. > :02:43.still has not reported back. Although there has been a successful
:02:44. > :02:48.testing of the design problem, these batteries still have a fundamental
:02:49. > :02:54.design problem. It will be a worry for customers and it has affected
:02:55. > :03:05.the share price. It could affect decisions about purchasing other
:03:06. > :03:10.aircraft instead. And of course, a word about the people booking
:03:11. > :03:16.flights on the carriers. What happens to this particular flight?
:03:17. > :03:21.The passengers were not on the plane. They were immediately
:03:22. > :03:27.transferred to another 787 and went to Bangkok. It did not affect the
:03:28. > :03:35.operations. It is an issue of maintenance and cost. It will raise
:03:36. > :03:43.concerns as to whether this plane is completely safe.
:03:44. > :03:48.To the car industry. It wrote's famous motor show kicked off this
:03:49. > :03:53.week. The focus has been on the big three US carmakers. But the country
:03:54. > :03:59.with the biggest car market is noticeably absent. Walking around
:04:00. > :04:04.the tour at auto show you will see brands from all over the world.
:04:05. > :04:14.But one country is not here. For the first time since 2006, there are no
:04:15. > :04:18.Chinese carmakers. That does not mean that Asian carmakers are
:04:19. > :04:23.underrepresented. Toyota has been generating a lot of buyers. This is
:04:24. > :04:27.a concept car that will not into production, but enthusiasts have
:04:28. > :04:34.been excited by what they are seeing. Carmakers have been revising
:04:35. > :04:42.brands like the Mustang and the Corvette. This is Toyota's offering.
:04:43. > :04:51.I am joined by the man responsible for what we see. This is the Toyota
:04:52. > :04:59.FT one. Our intent is to create a piece that sets the pace. We wanted
:05:00. > :05:05.to create an exciting design that draws people in and allow people to
:05:06. > :05:09.feel what the car looks like rather than think about it. What do you
:05:10. > :05:15.have to include in a car like this to get people excited? People have
:05:16. > :05:20.to see beautiful surfaces, beautiful proportions and excitement. Judging
:05:21. > :05:25.by the reaction so far, there has been a lot of excitement. For a
:05:26. > :05:30.company that has not traditionally been associated with that. But it is
:05:31. > :05:36.a push to try and win over the American car buyer.
:05:37. > :05:40.Earlier I spoke to a reporter who covers the car industry and asked
:05:41. > :05:49.him why the Chinese car makers are not making their presence felt. The
:05:50. > :05:52.biggest and critical aspect is how well you are placed on the
:05:53. > :05:59.technology front. Unless you have something big to offer, something
:06:00. > :06:05.that is technological, it is hard to offer. Chinese auto manufacturers
:06:06. > :06:13.are catching up with quality and product design. There are lacking on
:06:14. > :06:19.the technology front. Something that is new. That is what is required to
:06:20. > :06:26.be at the motor show. How do they say against the big three? All of
:06:27. > :06:35.them are using this show to say that the back in game. They are able to
:06:36. > :06:42.play on that field? Compare apples to apples, we should be comparing
:06:43. > :06:47.the top three to Japanese or Korean car manufacturers. Chinese and
:06:48. > :06:55.Indian companies act is still not in that league. A snack manufacturers
:06:56. > :06:59.are still. But when there are competing with the US
:07:00. > :07:07.manufacturers, Japanese manufacturers are doing pretty well.
:07:08. > :07:12.Bringing you some news that came to us in the past hour. The World Bank
:07:13. > :07:16.has raised its growth forecast for the first time in three years. In
:07:17. > :07:24.its latest estimate, the institution sees a global gross domestic product
:07:25. > :07:27.expanding by 3.2% from 2.4% last year. The bank said the world
:07:28. > :07:32.economy has reached a turning point as policy uncertainty no longer
:07:33. > :07:38.weighs heavily on most of the major countries. They were expecting
:07:39. > :07:43.growth to be strong in America compared to be that of last year.
:07:44. > :07:46.What makes a global property a hotspot?
:07:47. > :07:54.Our chief business correspondent is looking at what is driving property
:07:55. > :07:57.prices. She reports from London on my some properties are becoming more
:07:58. > :08:01.attractive. Potential homebuyers know all too
:08:02. > :08:06.well that cities like London, house prices are skyrocketing despite the
:08:07. > :08:12.tepid economic recovery. It is not just London. We have seen this
:08:13. > :08:17.across global property hotspots. Here, prices have more than doubled
:08:18. > :08:24.since 2005. In Asia, Singapore had seen house prices increased by more
:08:25. > :08:29.than 230%. In Hong Kong they now have the most expensive homes in the
:08:30. > :08:39.world. In New York, prices are up nearly 50%. Why are house prices
:08:40. > :08:45.rising so rapidly? Part of the reach of most people, high and flats like
:08:46. > :08:51.this one are a sign of how much demand there is for housing in
:08:52. > :08:54.places like London. Record low interest rates and even government
:08:55. > :09:00.schemes to help homebuyers are some of the reasons why house prices of
:09:01. > :09:04.rising. And London is an attractive place to own property because there
:09:05. > :09:12.is no annual tax based on the value of the property. If you own one of
:09:13. > :09:19.these $50 million homes, you would pay an annual tax of $60,000. That
:09:20. > :09:22.includes the local property tax. But such a property tax based on value
:09:23. > :09:31.of property does exist in other global cities. Peter, who is buying
:09:32. > :09:38.in London? Everyone is buying in London. The British are probably 40%
:09:39. > :09:45.of our business. Next on the line is Russia and satellites. We have got
:09:46. > :09:50.15% from the Middle East and Europe and then Asia. Different cities are
:09:51. > :09:57.becoming concerned about foreigners coming in to purchase property. In
:09:58. > :10:01.Asia there are new taxes foreigners buying and selling homes. In London,
:10:02. > :10:10.a similar measure comes into effect from 2015. For all those worried
:10:11. > :10:16.about and prices, we will be worried -- following those markets closely.
:10:17. > :10:27.Good gains for Asian markets as a result of an increase in US consumer
:10:28. > :10:38.spending. That is the latest from Wednesday's edition of Asia Business
:10:39. > :10:45.Report. Back in an hour. Here are the headlines: Thailand's a
:10:46. > :10:48.minister is insisting she will not resign as protesters continue to
:10:49. > :10:54.paralyse parts of the capital for a third day. -- prime minister.
:10:55. > :10:55.Israel is trained to diffuse an