Browse content similar to 04/07/2014. Check below for episodes and series from the same categories and more!
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identified the location of shale`bearing rock. Now on BBC News | :00:00. | :00:00. | |
all the latest business news live from Singapore. After a strong jobs | :00:00. | :00:25. | |
report spurs a record rally on Wall Street. And, from living room to | :00:26. | :00:28. | |
boardroom, research is claimed playing videogames can help improve | :00:29. | :00:33. | |
your business skills. Welcome to this Friday edition of Asia Business | :00:34. | :00:40. | |
Report. We are seeing positive gains in Asian stock markets this morning, | :00:41. | :00:42. | |
following encouraging news from the US jobs market. Japan, Korea, | :00:43. | :00:47. | |
Australia, they are all flat to higher after the US reports that its | :00:48. | :00:50. | |
unemployment rate fell to a six`year low of 6.1%. It spurred US stocks to | :00:51. | :01:00. | |
new highs, with the Dow Jones industrial average breaking through | :01:01. | :01:02. | |
the key 17,000 point level for the first time ever. But is the rally | :01:03. | :01:13. | |
sustainable? Our reporter was in New York. Not everyone expected this | :01:14. | :01:26. | |
kind of a jump. Most estimates were around 200,000 jobs added to the | :01:27. | :01:29. | |
economy, and many didn't think the unemployment rate would change much. | :01:30. | :01:32. | |
This comes as really good news, and we have been looking for the Dow | :01:33. | :01:35. | |
Jones to go up about 17,000 for a couple of days, but it was the very | :01:36. | :01:39. | |
positive jobs report that pushed it up into that territory. Despite what | :01:40. | :01:48. | |
we are seeing in the economy, a lot of jobs have been created. A lot of | :01:49. | :01:53. | |
the jobs that are being created are in fact part`time jobs, and there is | :01:54. | :01:56. | |
still the problem of what Janet Yellen, the chairperson of the | :01:57. | :01:58. | |
Federal Reserve, called the shadow unemployment. That is people who | :01:59. | :02:05. | |
aren't looking for work at all. They have dropped out of even searching | :02:06. | :02:09. | |
for a job, and that is a particular problem here in the US. Although we | :02:10. | :02:17. | |
are seeing a lot more people that are being employed, we are not | :02:18. | :02:20. | |
getting the kinds of jobs that they want. Earlier, I asked an economist, | :02:21. | :02:25. | |
Tony Nash, for his take on the data. I think it is more of a cause for | :02:26. | :02:31. | |
relief than celebration. It is very good news, and hopefully the start | :02:32. | :02:36. | |
of a good trend in the US economy. It is a cause for relief, but we | :02:37. | :02:40. | |
know that the first`quarter GDP contracted 3%, so there is a real | :02:41. | :02:43. | |
concern, particularly here in Asia, with a lot of investors watching the | :02:44. | :02:46. | |
US and manufacturers counting on US markets, so to what extent does the | :02:47. | :02:49. | |
US continue to influence what happens here? It still does in a big | :02:50. | :02:58. | |
way. Exports from Asia still go to the US as a large share of the | :02:59. | :03:09. | |
export market. Many companies contribute a lot in terms of direct | :03:10. | :03:12. | |
investment, and things for the large economies in Asia. There is a huge | :03:13. | :03:16. | |
overlap between the benefits for those countries. Unfortunately, but | :03:17. | :03:20. | |
what we are seeing is the rate of growth in countries like China to | :03:21. | :03:24. | |
the US declining, while it grows almost 10% in the other direction. | :03:25. | :03:31. | |
It was something like 14% last year, it is 6% this year. Those rates of | :03:32. | :03:40. | |
growth of exports from Japan, China and other places are slowing this | :03:41. | :03:45. | |
year. Tony Nash from Delta economics. In other business news, | :03:46. | :03:54. | |
China and South Korea's presidents have agreed to sign a free`trade | :03:55. | :03:57. | |
deal by the end of year. They also plan to allow direct trading of | :03:58. | :04:00. | |
their currencies in order to deepen economic ties. The announcement came | :04:01. | :04:05. | |
during a trip by the Chinese leader, Xi Jinping, to South Korea, which | :04:06. | :04:27. | |
ends today. Sharp electronics may stop producing LCD TVs in Europe. | :04:28. | :04:30. | |
Sharp is expecting to focus on Asian and American markets. They recently | :04:31. | :04:33. | |
posted their annual first profit in three years. Next week, air India | :04:34. | :04:39. | |
joined a coalition of more than two dozen carriers around the world, | :04:40. | :04:42. | |
Star Alliance. It is a big move, given it was previously turned down | :04:43. | :04:45. | |
for not being scratch. It continues to deal with huge debts and a | :04:46. | :04:49. | |
history of labour unrest. It also faces a rising number of competitive | :04:50. | :05:08. | |
rivals. The importance of the national carrier is that it provides | :05:09. | :05:11. | |
connectivity that others don't. Look at the biggest airline of this | :05:12. | :05:13. | |
country, they provide connectivity to about 30 destinations in the | :05:14. | :05:16. | |
country. Air India provides connectivity to 63 places in the | :05:17. | :05:20. | |
country. If there was no national carrier, who would connect these | :05:21. | :05:33. | |
places? You are the only airline where the government has pumped in | :05:34. | :05:37. | |
so much money to bail you out. Critics have asked the question | :05:38. | :05:40. | |
repeatedly that you have got a lot of taxpayer money, and why should | :05:41. | :05:43. | |
Air India be entitled to that? What is your reaction? All owners of | :05:44. | :05:46. | |
companies pump in money, somebody's money has to go into a company for | :05:47. | :05:50. | |
it to run successfully. In this case, it is government money that is | :05:51. | :05:53. | |
being pumped in, after all the transport companies. Whether it is | :05:54. | :06:02. | |
railways, whether it is a state transport companies, look at the | :06:03. | :06:05. | |
power companies which are run by the government. It is taxpayer money | :06:06. | :06:08. | |
ultimately that goes into it. Too much is made of this in the case of | :06:09. | :06:14. | |
Air India. What is your turnaround plan for Air India? How do you plan | :06:15. | :06:24. | |
to restructure the company? Costs are the most important thing. If the | :06:25. | :06:28. | |
company does not cut costs we cannot keep going infinitely. We have been | :06:29. | :06:32. | |
trying to do that, and we have made substantial savings as far as | :06:33. | :06:34. | |
employee costs are concerned. Our productivity has gone up 29% in the | :06:35. | :06:44. | |
last three years. The second important thing is the 787, which | :06:45. | :06:47. | |
will cut down on fuel bills. That should make a difference to our | :06:48. | :06:50. | |
economics. The third important thing is basically that we can see that a | :06:51. | :06:54. | |
network is rational. You can catch more of that interview with the | :06:55. | :06:57. | |
managing director of Air India this weekend. For those of you out there | :06:58. | :07:09. | |
who love plain computer games, you will are probably sick and tired of | :07:10. | :07:12. | |
people telling you you are wasting your time. Researchers in Singapore | :07:13. | :07:15. | |
have found that some games could help you develop the skills you need | :07:16. | :07:18. | |
for a successful career. Problem`solving, planning and | :07:19. | :07:20. | |
decision`making, these are highly sought`after skills in any | :07:21. | :07:22. | |
boardroom. You can learn these by going to business school or climbing | :07:23. | :07:35. | |
away up the ladder. But a new study done here at this technological | :07:36. | :07:37. | |
university suggests playing videogames can develop these skills | :07:38. | :07:42. | |
as well. With the now is Michael Pattison, the senior author of the | :07:43. | :07:45. | |
study. You have highlighted this game. How does this develop your | :07:46. | :07:49. | |
mental abilities? Unlike most games, in this game, before you start you | :07:50. | :07:52. | |
need to plan what you are doing next. Most games, you fire when you | :07:53. | :07:59. | |
see an enemy, but in this game I have to plan, OK, what is the | :08:00. | :08:03. | |
sequence I can do in order to get the candy into the creature's now. | :08:04. | :08:16. | |
`` mouth. In the business world we often have a steel where we plan | :08:17. | :08:19. | |
what we will say next. The situation may change, we need to be more | :08:20. | :08:24. | |
reactive to situations. This is a game in which a strategy that worked | :08:25. | :08:28. | |
in the previous level won't work in the next level. How relevant is this | :08:29. | :08:31. | |
when there are not the same pressures you face in a boardroom? | :08:32. | :08:34. | |
One element of this game is that if you keep trying you will be | :08:35. | :08:37. | |
successful. Try different methods. That can work in business. If you | :08:38. | :08:40. | |
are designing a new product, and the manufacturing didn't work the first | :08:41. | :08:43. | |
time, you can try a different approach. Sometimes it may seem | :08:44. | :08:46. | |
stressful and you might not think you can get through, but if you keep | :08:47. | :08:49. | |
persisting you will survive, and if you don't succeed you learn how to | :08:50. | :08:53. | |
deal with failure, because in the game many times you fail. Like in a | :08:54. | :08:57. | |
boardroom, your pitch may not be successful but you can find a | :08:58. | :09:00. | |
different boardroom, so it teaches mental toughness. The bad news for | :09:01. | :09:09. | |
gamers is that not all videogames will help you develop these specific | :09:10. | :09:14. | |
skills. The important thing is to play complex puzzle games if you | :09:15. | :09:17. | |
want to think more creatively on your feet. As cashless transactions | :09:18. | :09:34. | |
come more common, big bank notes will be harder to find. This is a | :09:35. | :09:37. | |
specimen of Singapore's $10,000 note. If it were real, it would be | :09:38. | :09:54. | |
worth $8000 US. It will be taken off the printing presses from the 1st of | :09:55. | :09:57. | |
October, in a move to lower with the risk of money laundering. In the US, | :09:58. | :10:01. | |
the biggest note currently printed is the $100 bill, while in the UK | :10:02. | :10:04. | |
the highest denomination is only ?50, worth 85 US dollars. In | :10:05. | :10:06. | |
Switzerland, the biggest banknote you will find his 1000 Swiss francs, | :10:07. | :10:16. | |
which is worth about $1125. The biggest bill in Indonesia is the | :10:17. | :10:21. | |
100,000 note. It would make you feel rich. That is fascinating about what | :10:22. | :10:32. | |
you can learn about notes around the world. There is more on our website. | :10:33. | :10:44. | |
Thank you for watching. A bridge has collapsed in the Brazilian city of | :10:45. | :10:47. | |
Belo Horizonte, killing at least two people. 19 are injured. It is feared | :10:48. | :10:54. | |
more may be trapped in their vehicles under the | :10:55. | :10:56. |