Browse content similar to 25/04/2014. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
a mother has been accused of murdering her three children. She | :00:00. | :00:07. | |
will appear in court in the morning. Ups and downs in the car industry. | :00:08. | :00:20. | |
We go through the latest earning numbers from the US and Japan. | :00:21. | :00:24. | |
What do businesses want from Indonesia's next president? One | :00:25. | :00:29. | |
entrepreneur shares his wish list. Welcome to Asia Business Report. We | :00:30. | :00:34. | |
start off with the automotive sector. Investors have to buckle up | :00:35. | :00:41. | |
for an interesting ride. The US carmaker GM posting a profit of $125 | :00:42. | :00:46. | |
million for the first quarter. Its worst financial result in four | :00:47. | :00:50. | |
years. Its image has been dented by much`publicised recalls. Here, | :00:51. | :00:54. | |
things have gone better for Mitsubishi, which shrugged off | :00:55. | :00:59. | |
sluggish sales in some Asian markets to post a significant increase in | :01:00. | :01:05. | |
profits. GM ended you positively, with a | :01:06. | :01:09. | |
multimillion dollar profit and its fourth straight year in the black. | :01:10. | :01:14. | |
It seemed like a true reversal of fortune for the automotive giant | :01:15. | :01:18. | |
which, if you years earlier, filed for bankruptcy protection and needed | :01:19. | :01:24. | |
a government bailout. This year, it has been far more challenging. It | :01:25. | :01:29. | |
recalled 7 million vehicles over faulty ignition systems that have | :01:30. | :01:34. | |
been linked to over 12 deaths. Now it is looking to China to secure its | :01:35. | :01:41. | |
fortunes. It will invest $12 billion in the coming years to take on its | :01:42. | :01:45. | |
European rivals, who have more of a foothold in the market there. China | :01:46. | :01:50. | |
was a bright point for Japanese carmaker Mitsubishi in its annual | :01:51. | :01:56. | |
earnings as well. Sales in Asia, its biggest market, dropped by 4% over | :01:57. | :02:01. | |
the past year. China, the Philippines bucked the trend `` and | :02:02. | :02:05. | |
the Philippines bucked the trend. Overall, the carmaker did well. Its | :02:06. | :02:15. | |
net income was 104.7 billion yen, and increase of 176% over the | :02:16. | :02:22. | |
previous year. Mazda and Honda are hoping for equally positive results | :02:23. | :02:26. | |
when they report later today. Over to Japan. Ices remained static | :02:27. | :02:32. | |
for a second straight month. That suggests the government still has | :02:33. | :02:37. | |
some way to go when it comes to meeting their target of 2% | :02:38. | :02:45. | |
inflation. This morning's Dato showed the price of things has | :02:46. | :02:52. | |
increased. CPI in Tokyo rose by 2.7% of April, meaning the national CPI | :02:53. | :02:56. | |
gauge could soon follow suit. Tokyo has ordered for bankruptcy | :02:57. | :03:01. | |
proceedings to begin against the bitcoin exchange that collapsed | :03:02. | :03:05. | |
earlier this year. That is expected to lead to a liquidation of the | :03:06. | :03:10. | |
currency exchange. The court appointed trustee will look at how | :03:11. | :03:13. | |
much the company's remaining bitcoin holdings are worth and will sell`off | :03:14. | :03:18. | |
of assets to raise cash. It is unclear at this stage if investors | :03:19. | :03:21. | |
will get back any of their investments. | :03:22. | :03:24. | |
Within a few months Indonesia will have a new president and many | :03:25. | :03:27. | |
businesses have been hoping that the election will bring to power the | :03:28. | :03:29. | |
government that is in favour of economic reform. So, how much will | :03:30. | :03:35. | |
the election change the business environment and will it be a change | :03:36. | :03:41. | |
for the better? Recently I spoke to an Indonesian entrepreneur. He is | :03:42. | :03:45. | |
the head of a company which holds the franchise for more than 107 11 | :03:46. | :03:56. | |
`` 711 stores 100 in the country. We are in the mostly food and beverages | :03:57. | :04:07. | |
sales. The 240 million people will still need to eat and drink. We are | :04:08. | :04:12. | |
optimistic. Indonesia will have a new president by the middle of this | :04:13. | :04:16. | |
year. What are your expectations? What will you need from the new | :04:17. | :04:25. | |
president? The most important thing is stability. As long as Indonesia | :04:26. | :04:31. | |
is stable and secure, the business and people will grow. Number two is | :04:32. | :04:37. | |
the policies. Indonesia is growing so fast and the government policy | :04:38. | :04:43. | |
has to catch up with the changing needs of customers, as well as | :04:44. | :04:47. | |
people. And businesses. So, more stable, secure and better policies | :04:48. | :04:57. | |
towards the businesses. What are some of the problems of Indonesia | :04:58. | :05:01. | |
that still need to be fixed? Number one is infrastructure. In Jakarta, | :05:02. | :05:06. | |
traffic jams are everywhere. The roads aren't as equipped to | :05:07. | :05:10. | |
accommodate the growth of the automotive is here. So, the | :05:11. | :05:18. | |
infrastructure is clearly the number one priority for the government. In | :05:19. | :05:25. | |
Jakarta, they are building a monorail, ices. Clearly the number | :05:26. | :05:33. | |
one thing for everyone in the business and government sector is to | :05:34. | :05:38. | |
build infrastructure. You have hundreds of stores but only in | :05:39. | :05:42. | |
Jakarta. Wendy you plan to expand to the other islands? We continue to | :05:43. | :05:48. | |
study the other islands but 70% of the population live in Java. 70%. | :05:49. | :05:58. | |
So, our eyes are currently focusing on guitars `` Jakarta. In the short | :05:59. | :06:06. | |
distance, it will be in Java. In other business is making headlines, | :06:07. | :06:12. | |
Barclays bank will pay $280 million to US companies to settle claims | :06:13. | :06:17. | |
that it sold them faulty mortgage`backed securities during | :06:18. | :06:21. | |
the housing bubble. Other banks that have reached settlements with US | :06:22. | :06:25. | |
regulators include Citigroup and Deutsche bank. Mortgage`backed | :06:26. | :06:30. | |
securities referred to investment products at the centre of the recent | :06:31. | :06:32. | |
global financial crisis. For major technology companies in | :06:33. | :06:34. | |
America, including Apple and Google, have agreed to pay three `` | :06:35. | :06:40. | |
by some to settle a lawsuit that accuses them of conspiring to hold | :06:41. | :06:46. | |
down salaries in Silicon Valley. According to Reuters, the settlement | :06:47. | :06:48. | |
took place just weeks before the trial was scheduled to begin. Tech | :06:49. | :06:52. | |
workers filed a class action suit against misty Apple, Google, Intel | :06:53. | :07:01. | |
and Adobe, alleging they tried to solicit one another's employees in | :07:02. | :07:07. | |
order to avoid a salary war. The jury could amount up to $3 billion | :07:08. | :07:15. | |
in damages. The loss could have been tripled to $9 billion, US. The once | :07:16. | :07:21. | |
chief executive of Apple and the man thought we could `` thought to be | :07:22. | :07:26. | |
behind Steve Jobs smacks resignation in 1985 now runs a company that | :07:27. | :07:30. | |
invests and acquires other information technology firms. `` | :07:31. | :07:38. | |
Steve Jobs'. He has spoken about how he has moved on since his time at | :07:39. | :07:42. | |
Apple. This is the right time to be in Asia. The past five decades, the | :07:43. | :07:47. | |
American middle class model has been the aspiration and has been exported | :07:48. | :07:51. | |
around the world that it is no longer affordable for us in the US. | :07:52. | :07:54. | |
In Asia, we have this rapidly growing emerging middle class. With | :07:55. | :08:01. | |
a more frugal model of what that aspiration will be. I believe not | :08:02. | :08:07. | |
only can we learn from that and be able to bring products and services | :08:08. | :08:12. | |
to the Asian market but I think we can bring a lot of new ways of | :08:13. | :08:15. | |
thinking back to the West. You are known as the guy who fired Steve | :08:16. | :08:22. | |
Jobs. It has since emerged that he was pushed out of the company. What | :08:23. | :08:24. | |
would you do differently in hindsight? First of all, Steve Jobs | :08:25. | :08:35. | |
was brilliant. Unquestionably, maybe one of the best entrepreneurs of our | :08:36. | :08:40. | |
generation. But Steve Jobs in his 20s was not the same Steve Jobs as | :08:41. | :08:48. | |
we saw in his later years. I think I didn't understand well enough what | :08:49. | :08:53. | |
it meant to be the founder of a company. As a professional manager | :08:54. | :08:59. | |
who was brought in, I wish I had better coaching, probably from the | :09:00. | :09:03. | |
board. In hindsight, there's no reason why we had to break up. I | :09:04. | :09:06. | |
think the board could have taken a more proactive role. I never wanted | :09:07. | :09:12. | |
to take Apple away from him. His job was to launch the Macintosh. It just | :09:13. | :09:18. | |
so happened he was a few years too early, the technology wasn't ready | :09:19. | :09:21. | |
to do all the things that it was later able to do. Those are problems | :09:22. | :09:26. | |
that could have been solved in other ways. What kind of advice would you | :09:27. | :09:31. | |
give Apple now? They have been embroiled in several legal cases | :09:32. | :09:33. | |
against rivals like Samsung. How would you change the company, `` | :09:34. | :09:39. | |
many? The management is doing a brilliant job now. It is an | :09:40. | :09:41. | |
extremely well`run company. But I think it probably lacks the creative | :09:42. | :09:45. | |
leap that it had when Steve was alive running the company. Those | :09:46. | :09:51. | |
things only come along once every five or six years. So we will have | :09:52. | :09:56. | |
to wait and see as to whether there is an opportunity for Apple to do | :09:57. | :10:01. | |
another creative leap under the current leadership or whether it | :10:02. | :10:04. | |
will be one of those really well`managed companies, like BMW, | :10:05. | :10:07. | |
that turns out very high`quality products but doesn't necessarily do | :10:08. | :10:12. | |
creative leaps. A former Apple chief executive. Asian stocks are | :10:13. | :10:20. | |
lethargic in early Friday trading. Investors await the results of more | :10:21. | :10:25. | |
earning numbers. Japan is up by 109 points. Hong Kong and South Korea in | :10:26. | :10:30. | |
negative territory. Thank you for investing your time with us. | :10:31. | :10:39. | |
The top stories this hour: The American Secretary of State John | :10:40. | :10:42. | |
Kerry has accused Russia of being responsible for the increase of | :10:43. | :10:45. | |
violence in eastern Ukraine. Israel's Prime Minister Benjamin | :10:46. | :10:49. | |
Netanyahu has told the BBC that Middle East peace talks can only | :10:50. | :10:50. |