Browse content similar to 28/02/2014. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
into why letters were sent to republican paramilitary suspects | :00:00. | :00:00. | |
telling them they would not be prosecuted. | :00:00. | :00:00. | |
Now it is time for all the latest business news from Singapore. | :00:00. | :00:16. | |
Ahead of official growth figures, we take a look at how the sharp | :00:17. | :00:19. | |
economic slowdown in India is hitting ordinary people. | :00:20. | :00:26. | |
And we talk to a workers union in Australia about job cuts announced | :00:27. | :00:35. | |
by Qantas this week. Welcome to Asia Business Report. We | :00:36. | :00:42. | |
start with India, which will be releasing its economic growth | :00:43. | :00:46. | |
figures later today. That is for the last three months of 2013. The | :00:47. | :00:53. | |
country has seen a sharp slowdown in stark contrast with the double-digit | :00:54. | :00:57. | |
growth it hoped to get. What has this meant for ordinary people? | :00:58. | :01:12. | |
It is not bright enough to light up this small room. And more darkness | :01:13. | :01:20. | |
may lie ahead for this couple. He recently lost his job in a car | :01:21. | :01:24. | |
factory. His wife is pregnant and due to give birth soon. But she has | :01:25. | :01:29. | |
had to take a job to keep them going for a while. Every morning he makes | :01:30. | :01:38. | |
his way to factories in the area, hoping to find work. TRANSLATION: | :01:39. | :01:46. | |
Whichever company I go to, they say there is less production. They are | :01:47. | :01:52. | |
not hiring. It has been three months I have been looking for a job. I get | :01:53. | :01:59. | |
the same answer everywhere. And he is not alone. Manufacturing is | :02:00. | :02:03. | |
considered the job generator. And that has been slowing. Many are | :02:04. | :02:11. | |
bearing the brunt. More than half of the country's 1.2 million -- billion | :02:12. | :02:21. | |
people are under 25. A cut in job creation is still a big worry. While | :02:22. | :02:27. | |
manufacturing has had a rough ride, it hasn't quite a different story in | :02:28. | :02:34. | |
farms across India. -- has been. The harvest has been good and prevented | :02:35. | :02:40. | |
the economy from a steep slide. This man grows wheat and mustered. He | :02:41. | :02:46. | |
tells me that good rainfall last year has helped farmers like him. | :02:47. | :02:53. | |
The production of wheat in particular increased substantially. | :02:54. | :03:02. | |
TRANSLATION: During the festival season we had good celebrations. We | :03:03. | :03:08. | |
could afford to spend some money. Acer bought a car. But this is all | :03:09. | :03:14. | |
thanks to the weather gods. -- my son. Who knows what it will be like | :03:15. | :03:20. | |
this year? Even though agriculture grew nearly three times over the | :03:21. | :03:23. | |
previous year, the country cannot afford to take comfort from this. | :03:24. | :03:28. | |
Strong reaction from the government making it easier to do business is | :03:29. | :03:36. | |
what industry is calling for. If a stable government comes to power in | :03:37. | :03:39. | |
the elections, growth could turn a corner. But until then things up | :03:40. | :03:50. | |
unlikely to pick up pace. Executives from Qantas has met with | :03:51. | :03:54. | |
union officials this morning to discuss the 5000 jobs it plans to | :03:55. | :04:02. | |
cut. Yesterday the CEO Alan Joyce announced the cuts alongside losses | :04:03. | :04:09. | |
of $211 million. Workers unions say they are suffering from poor | :04:10. | :04:11. | |
management decisions and want answers. I spoke to a member of the | :04:12. | :04:16. | |
transport workers union of Australia. We need to see a | :04:17. | :04:22. | |
turnaround in management strategy for the airline and perhaps he will | :04:23. | :04:27. | |
see improvement in Qantas's fortunes. In times of the | :04:28. | :04:30. | |
government, they seem to be providing conflicting guidance | :04:31. | :04:35. | |
publicly. The Treasurer was giving indications last week that they | :04:36. | :04:39. | |
would be providing a guaranteed, but the Prime Minister seemed to stop | :04:40. | :04:45. | |
that speculation. How bad could it potentially be before the government | :04:46. | :04:54. | |
steps in or looks at seriously changing strategy? If they are not | :04:55. | :05:00. | |
seriously reviewing strategy now, I am not sure this current board is | :05:01. | :05:05. | |
going to review strategy. We are looking at a company with 65% share | :05:06. | :05:16. | |
of the Australian market. They cannot turn a profit. The reason we | :05:17. | :05:22. | |
say that is that they have sunk billions into an Asian expansion | :05:23. | :05:30. | |
that has failed. They seem to be incapable of acknowledging that. | :05:31. | :05:38. | |
Staying with the airlines industry in Australia, Virgin Australia has | :05:39. | :05:45. | |
posted a $75 million loss ending in December. That compares to $20 | :05:46. | :05:49. | |
million of profit at the same time last year as it continues to try and | :05:50. | :05:56. | |
compete. The airlines are battling it out. | :05:57. | :06:02. | |
A stream of official economic data out of Japan shows consumer prices | :06:03. | :06:09. | |
rising 1.3% in January. Japan has been faced with serious deflation | :06:10. | :06:17. | |
problem is close to two decades. -- problems for. But this is a rose for | :06:18. | :06:26. | |
the eighth month in a row. The world's second largest toymaker | :06:27. | :06:33. | |
saw its profits rise in 2013 by 9% to $1.1 billion. Rising sales were | :06:34. | :06:39. | |
helped by increasing demand from China. Profits from the hugely | :06:40. | :06:48. | |
successful movie were not included. A court in the United States has | :06:49. | :06:52. | |
charged a British man with hacking into the computer system of | :06:53. | :06:57. | |
America's central bank. He faces charges of posting names, phone | :06:58. | :07:01. | |
numbers and addresses of officials to a website he ran. The charges | :07:02. | :07:07. | |
carry a sentence of 12 years in prison. | :07:08. | :07:11. | |
All of that news and analysis from around the region on our website. | :07:12. | :07:21. | |
Malaysian billionaire Vincent Tan became one of the country's richest | :07:22. | :07:25. | |
man after winning the McDonald's franchise in the 1980s. Now he | :07:26. | :07:31. | |
oversees a business empire that includes gambling, business resorts | :07:32. | :07:35. | |
and property. But he has become a name after eyeing Cardiff City and | :07:36. | :07:40. | |
sacking its popular coach. -- buying. We asked if there were plans | :07:41. | :07:50. | |
to publicly listed Cardiff City. We were talking about it, but it is not | :07:51. | :07:54. | |
possible now with the situation. Looking at it most likely we will | :07:55. | :08:00. | |
not be listing it at all. I will keep this as my private investment. | :08:01. | :08:06. | |
That is until I can be sure that the club can be sustainable. That we | :08:07. | :08:16. | |
have a strong squad, good management that can keep us in the Premier | :08:17. | :08:22. | |
league. If that can happen, maybe we can list it. Is your aim profit or | :08:23. | :08:31. | |
to embrace and be part of the club? Is success on the pitch more | :08:32. | :08:34. | |
important or are you in this as some foreign owners are for profit? In | :08:35. | :08:44. | |
any business investment, and I regard this as an investment, a | :08:45. | :08:48. | |
profit is important. But we want to be profitable and do well on the | :08:49. | :08:55. | |
pitch. We are trying to balance, but not go overboard. We are not going | :08:56. | :09:07. | |
to buy something for $40 million. But reasonably you can have good | :09:08. | :09:12. | |
football management. Look at Southampton. They do not spend a lot | :09:13. | :09:16. | |
of money and they do well. This is possible. You signed a pledge | :09:17. | :09:21. | |
meaning that you will donate half of their wealth in your lifetime. I | :09:22. | :09:28. | |
children happy that? I joke about it. But they understand. I explained | :09:29. | :09:35. | |
to them. I was inspired by Bill Gates. You do not give your children | :09:36. | :09:41. | |
too much that they do not need to work. You give a little bit. Then | :09:42. | :09:49. | |
they have to work. You must work. I do not understand people who do not | :09:50. | :09:56. | |
work. I work all my life. I worked 18 hours every day. I do not | :09:57. | :10:01. | |
understand people who do not work. I want my children to make sure that | :10:02. | :10:04. | |
they work. They should not have too much money. If they have too much, | :10:05. | :10:09. | |
they do not need to work. That is Malaysian billionaire | :10:10. | :10:15. | |
Vincent Tan. The markets are flat and higher. | :10:16. | :10:21. | |
Some games for the rest of the markets. -- gains. The chairman of | :10:22. | :10:31. | |
the Federal reserve spoke to the Senate Banking Committee and had | :10:32. | :10:35. | |
broadly positive news about the US economy. That is it for this edition | :10:36. | :10:41. | |
of Asia Business Report. Here are the headlines: There are | :10:42. | :10:47. | |
reports from Ukraine that a group of armed men in military uniforms have | :10:48. | :10:51. | |
seized the airport in the capital of crime you after the parliament | :10:52. | :10:58. | |
buildings occupied. -- Crimea. The World Bank has halted a bank | :10:59. | :11:03. | |
loan after the president signed a bill that toughens the | :11:04. | :11:04. |