Browse content similar to 18/09/2014. Check below for episodes and series from the same categories and more!
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now, the US Central Bank has insisted it will not raise interest | :00:53. | :00:58. | |
rates until the end of its stimulus programme. With that due to expire | :00:59. | :01:03. | |
next month, attention has shifted to when those rates might rise. Janet | :01:04. | :01:11. | |
Yellen has insisted that the idea of considerable time should be linked | :01:12. | :01:16. | |
to a specific `` should not be linked to a specific date. There is | :01:17. | :01:21. | |
no mechanical interpretation of what the term considerable time means. | :01:22. | :01:27. | |
And as I have said repeatedly, the decisions the committee makes about | :01:28. | :01:31. | |
what is the appropriate time to begin to raise its target for the | :01:32. | :01:36. | |
federal funds rate will be data dependent. What is the point of | :01:37. | :01:42. | |
forward guidance is not linked to a specific date? The central bank says | :01:43. | :01:46. | |
it needs the ability to adapt to a changing economy. Unemployment is | :01:47. | :01:54. | |
falling but it needs the flexibility to adapt to changing economic | :01:55. | :01:58. | |
conditions. And raising rates to quickly could choke off the economic | :01:59. | :02:03. | |
recovery. Keep them too low for too long and the economy could spiral | :02:04. | :02:08. | |
out of control. America has been awash with cheap cash through low | :02:09. | :02:13. | |
interest rates and economic stimulus but those emergency measures cannot | :02:14. | :02:19. | |
last indefinitely. Shares in Sony have fallen by as much as 12% in | :02:20. | :02:24. | |
Tokyo today after it said it stood to lose more than $2 billion this | :02:25. | :02:29. | |
financial year, more than four times its earlier forecast a few months | :02:30. | :02:34. | |
ago. Sony is blaming a downturn in its mobile phone business. It has | :02:35. | :02:41. | |
long promised a turnaround but will it ever deliver? Earlier, I ask if | :02:42. | :02:50. | |
these troubles were really all link to smartphones. They have a balance | :02:51. | :02:59. | |
sheet adjustment while they move out of this period in their business. | :03:00. | :03:03. | |
Having said that, their forecasts have been lowered. Their positioning | :03:04. | :03:08. | |
is very muddled. They are not at the top end. They are not at the low end | :03:09. | :03:20. | |
either. They are not the first choice of the top end customer or | :03:21. | :03:25. | |
the first choice of the mass`market customer. This market is only going | :03:26. | :03:35. | |
to get tougher, isn't it? Yes. Apple will have new products, Samsung will | :03:36. | :03:39. | |
react and then there will be lots of Chinese brands on the market. I | :03:40. | :03:45. | |
don't see that changing. I don't see anything which is going to make them | :03:46. | :03:49. | |
a product category leader. I don't see anything that will distinguish | :03:50. | :03:54. | |
it from other products. And they don't even have a global strategy | :03:55. | :03:58. | |
when you look at what they have done so far. They will continue to model | :03:59. | :04:04. | |
and that begs the question if they should be in this isn't at all. | :04:05. | :04:11. | |
Japanese exports fell by 1.3% compared to last year. Shipments to | :04:12. | :04:18. | |
the US declined in August, adding to concerns that the Japanese economy | :04:19. | :04:21. | |
might not be able to rely on a pickup in trade to help it recover | :04:22. | :04:25. | |
from an April tax hikes. News Corporation has demanded the | :04:26. | :04:30. | |
European Commission take a tougher approach to Google. It says the | :04:31. | :04:34. | |
search engine has become a platform for piracy and its powers are | :04:35. | :04:39. | |
increasing every day. Google says it tackles piracy rigourously. And eBay | :04:40. | :04:44. | |
has been compromised. Users who clicked on some links have been | :04:45. | :04:50. | |
diverted to a website designed to steal their credentials. It looks | :04:51. | :04:56. | |
like the eBay welcome page. Authorities only removed the suspect | :04:57. | :05:03. | |
listing after a follow`up phone call from the BBC more than 12 hours | :05:04. | :05:06. | |
after the initial alert. Xi Jinping is on his first visit to India, the | :05:07. | :05:13. | |
first visit by a Chinese leader to India since 2006. There are high | :05:14. | :05:18. | |
hopes this trip will lead to improved business ties. Earlier, I | :05:19. | :05:26. | |
spoke with an Indian national who has a long history of doing business | :05:27. | :05:32. | |
in China. The growth rate of India and China have been the fastest | :05:33. | :05:38. | |
globally. China has run a large trade surplus over the last four | :05:39. | :05:42. | |
years. India can provide chemicals and iron ore. China exports | :05:43. | :05:48. | |
Manufacturing goods and electronic components. It is an unbalanced | :05:49. | :05:54. | |
trade from that perspective. What we expect to see is that the trade | :05:55. | :05:57. | |
deficit will continue but Chinese investment in India will rebalance | :05:58. | :06:02. | |
and that is where we see the big change coming. Will that allow India | :06:03. | :06:08. | |
to move up the value chain in terms of what it makes and therefore what | :06:09. | :06:14. | |
it sells back to China? The Chinese are very good at infrastructure and | :06:15. | :06:18. | |
India desperately needs infrastructure. China has an export | :06:19. | :06:23. | |
manufacturing sector. The supply chain extends across Asia. India | :06:24. | :06:30. | |
needs to join that supply chain. The Chinese export manufacturing and the | :06:31. | :06:34. | |
Indians support `` export manufacturing and those two will | :06:35. | :06:39. | |
come together. Relations seem warm at the moment but we know that there | :06:40. | :06:42. | |
are ongoing border disputes between these two countries. The politics | :06:43. | :06:46. | |
does sometimes interfere with the business. China is a large country | :06:47. | :06:52. | |
and it has challenges with many of its neighbours on a political | :06:53. | :06:56. | |
front. That will not stop it with growing commercial relationships | :06:57. | :07:02. | |
with all of its neighbours. And India has to learn that and see this | :07:03. | :07:07. | |
relationship on the commercial side differently to the relationship on | :07:08. | :07:11. | |
the political side. The political side always takes longer to change | :07:12. | :07:14. | |
than the commercial side but we can clearly see the benefit of the over | :07:15. | :07:18. | |
100 Chinese companies in India and the over 100 Indian companies in | :07:19. | :07:26. | |
China. One of the world 's biggest stock offerings is about to take in | :07:27. | :07:32. | |
New York. Alibaba is expected to complete its sale of shares to big | :07:33. | :07:35. | |
investors on Thursday before trading opens to the general public on | :07:36. | :07:40. | |
Friday. What reception can the company expect from investors? The | :07:41. | :07:48. | |
big apple, America's financial centre. New Yorkers have a | :07:49. | :07:51. | |
reputation as a tough crowd to please, especially when it comes to | :07:52. | :07:57. | |
investments. That is what the massive Chinese company Alibaba will | :07:58. | :08:01. | |
soon discover when its shares begin trading at the New York stock | :08:02. | :08:06. | |
exchange. This will be one of the biggest events I have witnessed. | :08:07. | :08:11. | |
Inside this emblem of capitalism, Alibaba is about to have what could | :08:12. | :08:16. | |
be the biggest stock offering on the planet. Bigger than Facebook and | :08:17. | :08:22. | |
bigger than the Agricultural Bank of China. Such is the anticipation... | :08:23. | :08:29. | |
I'm very active on Chinese social media. I have had people chatting | :08:30. | :08:34. | |
with me and asking me if I can connect them with the IPO team | :08:35. | :08:39. | |
because they want to buy up to 2 million shares. Why all the hype? | :08:40. | :08:45. | |
Internet analyst Max Wolff explained. This company is literally | :08:46. | :08:51. | |
poised to take advantage of the largest emerging middle class in the | :08:52. | :08:56. | |
world, China, and the largest consumer class emergence in the | :08:57. | :09:01. | |
history of the world, China. Alibaba's success as an online | :09:02. | :09:05. | |
marketplace has already made it a force on the Chinese internet and it | :09:06. | :09:09. | |
has helped turn its founder from a teacher into one of China's urges | :09:10. | :09:15. | |
men. Investors are being asked to put their trust in him, but should | :09:16. | :09:19. | |
they? After all, this Chinese company comes with unusual risks | :09:20. | :09:23. | |
including a unique ownership structure, which gives the owner | :09:24. | :09:29. | |
most of the control. And an OPEC political system that for now has | :09:30. | :09:35. | |
supported Alibaba's success. `` opaque. There is no shortage of | :09:36. | :09:45. | |
investors clamouring to bet on Alibaba. And all eyes will be on | :09:46. | :09:53. | |
that float on Friday. Before we go, we can see that Asian markets are | :09:54. | :09:54. | |
higher. That is it for this edition of Asia | :09:55. | :10:07. | |
Business Report. Thank you for watching. | :10:08. | :10:15. | |
The top stories this hour: With hours to go before polls open, both | :10:16. | :10:20. | |
sides in the Scottish referendum campaign have held rallies as they | :10:21. | :10:23. | |
made their final efforts to win over undecided voters. | :10:24. | :10:29. | |
President Obama says American forces won't have a combat | :10:30. | :10:30. |