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character, Ken Barlow. Now on BBC News, all the latest | :00:00. | 3:59:59 | |
business news live from Singapore. Grounded. Japan Airlines suffers a | :00:00. | :00:21. | |
new battery problem on one of its Boeing 787 aircraft. The Detroit | :00:22. | :00:27. | |
auto show is under way. But one group is not attending. | :00:28. | :00:33. | |
Welcome. As you may have heard from our previous bulletin, Japan | :00:34. | :00:45. | |
Airlines has grounded one of its early 787 Dreamliner aircraft, after | :00:46. | :00:48. | |
it detected white smoke outside the plane, caused by a battery issue. | :00:49. | :00:51. | |
The incident comes nearly one year after Japan Airlines and Nippon | :00:52. | :00:54. | |
Airways grounded their fleets after two batteries overheated on two | :00:55. | :01:06. | |
planes. Global regulators issued a worldwide grounding of the 787 | :01:07. | :01:10. | |
fleets, which went on for three months. Our correspondent brought us | :01:11. | :01:22. | |
up to date. Yesterday afternoon in Japan, when | :01:23. | :01:24. | |
an inspection of a Japan Airlines 787 was taking place before a flight | :01:25. | :01:27. | |
to Thailand. During the inspection, the engineers noticed smoke coming | :01:28. | :01:30. | |
from somewhere. They went to investigate. Alarms went off in the | :01:31. | :01:36. | |
cockpit, showing the source was the battery. They found that one of the | :01:37. | :01:39. | |
eight lithium ion batteries appear to have overheated and melted. It | :01:40. | :01:49. | |
does look like it was very similar to the problems that caused the | :01:50. | :01:59. | |
grounding last year. But, at the same time, the company Boeing is | :02:00. | :02:02. | |
saying that the updated design, the containment system, works and that | :02:03. | :02:06. | |
the problem didn't spread. Nevertheless, new safety concerns. | :02:07. | :02:18. | |
Is this going to highlight issues? What it really points to is that | :02:19. | :02:22. | |
Boeing has still not got to the root of this battery problem. We are a | :02:23. | :02:25. | |
year on from the first incident and the investigation still hasn't | :02:26. | :02:30. | |
reported back. Although there has been a successful testing of the | :02:31. | :02:33. | |
design problem, these batteries still have a fundamental design | :02:34. | :02:44. | |
problem. That will be a worry for customers and it has affected the | :02:45. | :02:46. | |
share price. It could affect decisions about purchasing other | :02:47. | :02:56. | |
aircraft instead. This might, for example, help Airbus. | :02:57. | :03:02. | |
And of course, a word about the people booking flights on the | :03:03. | :03:05. | |
carriers. What happens to this particular flight? | :03:06. | :03:13. | |
The passengers weren't on the plane. They were immediately transferred to | :03:14. | :03:21. | |
another 787 and went to Bangkok. So, it didn't affect the operations | :03:22. | :03:24. | |
greatly. It's an issue of maintenance and cost. And, again, it | :03:25. | :03:31. | |
will raise concerns as to whether this plane is completely safe. | :03:32. | :03:37. | |
To the car industry. Detroit's famous motor show kicked off this | :03:38. | :03:44. | |
week. The focus this year has been on the big three US carmakers. But | :03:45. | :03:50. | |
the country with the biggest car maker and market is noticeably | :03:51. | :03:54. | |
absent. Walking around the Detroit Auto | :03:55. | :03:57. | |
Show, you'll see brands from all over the world. But one country is | :03:58. | :04:00. | |
not here. For the first time since 2006, there are no Chinese | :04:01. | :04:08. | |
carmakers. A sign of how hard it is to break the American market. That | :04:09. | :04:11. | |
doesn't mean that Asian carmakers are underrepresented. Toyota has | :04:12. | :04:15. | |
been generating a lot of buyers. -- buzz. This is a concept car that | :04:16. | :04:20. | |
hasn't moved to production, but enthusiasts have been excited by | :04:21. | :04:29. | |
what they are seeing. American carmakers have been reviving brands | :04:30. | :04:31. | |
like the Mustang and the Corvette. This is Toyota's offering. I'm | :04:32. | :04:34. | |
joined by the man responsible for what we see. This is the Toyota | :04:35. | :04:49. | |
FT-1. Our intent is to create a spiritual car that sets the pace. We | :04:50. | :04:56. | |
wanted to create an exciting, heart-tugging design that draws | :04:57. | :04:59. | |
people in and allows people to feel what the car looks like, rather than | :05:00. | :05:03. | |
think about it. What do you have to include in a car like this to get | :05:04. | :05:06. | |
people excited? People have to see beautiful surfaces, beautiful | :05:07. | :05:10. | |
proportions and excitement. Judging by the reaction so far, there has | :05:11. | :05:14. | |
been a lot of excitement, for a company that hasn't traditionally | :05:15. | :05:24. | |
been associated with that. But it's a push to try and win over the | :05:25. | :05:31. | |
American car buyer. India will release its latest | :05:32. | :05:33. | |
inflation figures in a few hours. Forecasters say the nation could see | :05:34. | :05:39. | |
the data edged down from a four-month high. Consumers have seen | :05:40. | :05:45. | |
persistently high inflation. The key question is whether it is whether | :05:46. | :05:50. | |
it's a long-term change. More from Mumbai. | :05:51. | :05:58. | |
I've just bought some tomatoes and the price I paid is about one | :05:59. | :06:02. | |
quarter of what it cost in November. The price of most vegetables here | :06:03. | :06:07. | |
are soaring. Many have become cheaper. The reason? The winter | :06:08. | :06:12. | |
harvest has been good, the reason why the supply of vegetables has | :06:13. | :06:17. | |
gone up. This has reflected retail inflation figures, which touched a | :06:18. | :06:21. | |
three-month low over December. This is great news for Indian consumers, | :06:22. | :06:24. | |
who have been battling for high food prices. Some people, did you leave | :06:25. | :06:29. | |
those from low income families, say they almost stopped buying | :06:30. | :06:36. | |
vegetables. -- particular goes. Inflation number is also expected to | :06:37. | :06:40. | |
have gone down generally. They say it will probably come down to about | :06:41. | :06:47. | |
7%, after 17.5% in November. But even at 7%, it's still quite high. | :06:48. | :06:52. | |
The central bank has been focusing on inflation. It has increased | :06:53. | :06:57. | |
interest rates twice as its -- since September. But during the last | :06:58. | :07:03. | |
review, rates have been unchanged because they believed inflation | :07:04. | :07:05. | |
would go on a downward trend and that's what we are seeing at the | :07:06. | :07:09. | |
moment. But the central bank is unlikely to announce any cuts off | :07:10. | :07:13. | |
interest rates, unless we see it go substantially lower. Stay with us. | :07:14. | :07:17. | |
We will bring you those figures as soon as we get them from Mumbai. | :07:18. | :07:29. | |
The World Bank has raised its growth forecast for the first time in three | :07:30. | :07:32. | |
years. In its latest estimate, the institution sees global gross | :07:33. | :07:35. | |
domestic product expanding by 3.2% from 2.4% last year. The bank said | :07:36. | :07:38. | |
the world economy has reached a turning point, as policy uncertainty | :07:39. | :07:41. | |
no longer weighs heavily on most of the major countries. It's expecting | :07:42. | :07:52. | |
strong growth in America compared to that of last year. | :07:53. | :07:54. | |
What makes a global property a hotspot? Our chief business | :07:55. | :07:57. | |
correspondent is looking at what is driving property prices. Today, she | :07:58. | :08:00. | |
reports from London on my some properties that are becoming more | :08:01. | :08:04. | |
attractive. Potential homebuyers know all too | :08:05. | :08:07. | |
well that, in cities like London, house prices are skyrocketing, | :08:08. | :08:13. | |
despite the tepid economic recovery. And it's not just London. You see | :08:14. | :08:20. | |
this across global property hotspots. Here, prices have more | :08:21. | :08:30. | |
than doubled since 2005. In Asia, Singapore had seen house prices | :08:31. | :08:33. | |
increased by more than 230%. In Hong Kong, they now have the most | :08:34. | :08:39. | |
expensive homes in the world. In New York, despite the housing crash, | :08:40. | :08:42. | |
prices are up nearly 50%. Why are house prices rising so rapidly? Out | :08:43. | :08:55. | |
of the reach of most people, high end flats like this one are a sign | :08:56. | :08:59. | |
of how much demand there is for housing in places like London. | :09:00. | :09:02. | |
Record low interest rates and even government schemes to help | :09:03. | :09:04. | |
homebuyers are some of the reasons why house prices of rising. -- are | :09:05. | :09:09. | |
rising. And London is an attractive place to own property because | :09:10. | :09:12. | |
there's no annual tax based on the value of the property. If you own | :09:13. | :09:17. | |
one of these $50 million homes, you would pay an annual tax of $60,000. | :09:18. | :09:27. | |
-- $16,000. That includes the local property tax. But such a property | :09:28. | :09:34. | |
tax based on value of the property does exist in other global cities. | :09:35. | :09:39. | |
Peter, who is buying in London? Brits or foreigners? Everyone is | :09:40. | :09:43. | |
buying in London. But the British are probably 40% of our business. | :09:44. | :09:56. | |
Next on the line is Russia and a few other states. We have got 15% from | :09:57. | :09:59. | |
the Middle East and Europe and then Asia. Different cities are becoming | :10:00. | :10:01. | |
concerned about foreigners coming into purchase property. In Asia, | :10:02. | :10:05. | |
there are new taxes foreigners buying and selling homes. In London, | :10:06. | :10:08. | |
a similar measure comes into effect from 2015. For all those worried | :10:09. | :10:14. | |
about and prices, we will be following those markets closely. | :10:15. | :10:24. | |
You can see more on that report this weekend. This is Asia Business | :10:25. | :10:27. | |
Report. Thanks for watching. The main stories: Anti-government | :10:28. | :10:46. | |
protestors are still paralysing parts of Bangkok. The Prime Minister | :10:47. | :10:51. | |
insists she won't do is -- resigned. Israel has | :10:52. | :10:52. |