Browse content similar to 16/12/2015. Check below for episodes and series from the same categories and more!
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Now on BBC News all the latest business news live from Singapore. | :00:00. | :00:14. | |
As the world awaits word from the US central bank chief, we look at how | :00:15. | :00:21. | |
America's economy would cope with higher rates. And as Google's CEO in | :00:22. | :00:27. | |
India heads home, what is the future for the Internet giant in the | :00:28. | :00:36. | |
region? Thank you for joining us. We have been waiting for this for about | :00:37. | :00:40. | |
a year and it is still not certain whether this Wednesday really will | :00:41. | :00:44. | |
be the day. Later in the early hours of the morning in a shop, the US | :00:45. | :00:49. | |
central bank will announce whether or not it will finally raise the | :00:50. | :00:57. | |
cost of borrowing. Now we go to our correspondent. America's car | :00:58. | :01:07. | |
industry is back. Rock-bottom interest rates helps to breathe life | :01:08. | :01:11. | |
back into it. Dealerships like this one in New Jersey are once again | :01:12. | :01:16. | |
buzzing. The economy is coming back in stabilising and that fear factor | :01:17. | :01:22. | |
isn't there. So consequently, they are hitting dealerships and getting | :01:23. | :01:28. | |
what they want. Enjoying life. With the US economy purring rather than | :01:29. | :01:33. | |
roaring back to life, America's central-bank is set to raise | :01:34. | :01:36. | |
interest rates from near zero. Does that make a difference to you? It | :01:37. | :01:42. | |
does but I will make it work. You are always trying to find a good | :01:43. | :01:47. | |
deal and that sort of thing. But will hire rates, which strengthens | :01:48. | :01:51. | |
the US dollar, stamp out America's export revival Weber this company | :01:52. | :01:56. | |
makes wallets, notebooks and a host of other products which it sells | :01:57. | :02:01. | |
around the world. In Canada alone, we have lost out over $125,000 in | :02:02. | :02:06. | |
lost revenue this year simply because the department stores we | :02:07. | :02:09. | |
sell to can no longer afford our products at those costs. Those | :02:10. | :02:14. | |
inside here believe the economy is strong enough to survive a rate | :02:15. | :02:18. | |
hike. Good news and not just in America. US consumers the Atlas to | :02:19. | :02:25. | |
the rest of the world. It still doesn't have the brace of credit | :02:26. | :02:29. | |
that it once did and it is not as strong as it once was to carry the | :02:30. | :02:32. | |
rest of the world but the rest of the world is certainly looking | :02:33. | :02:39. | |
forward to selling many of their products to the US and that will | :02:40. | :02:46. | |
continue in 2016. The economy has recovered but it has taken a long | :02:47. | :02:51. | |
time and now here we are, the widely expected interest rate rise will not | :02:52. | :02:53. | |
necessarily be followed by more in the near future but it is a | :02:54. | :02:58. | |
validation of America's returned to some kind of prosperity. -- return. | :02:59. | :03:11. | |
We're speaking to an economist about this. We have all been preparing for | :03:12. | :03:15. | |
this for a long time and most investors are now expecting this. | :03:16. | :03:20. | |
There will be some investors who are not, who will be surprised by it and | :03:21. | :03:24. | |
there are many companies in particular that have got themselves | :03:25. | :03:27. | |
overexposed US dollar debt while they have been taking advantage of | :03:28. | :03:31. | |
the low interest rates. Probably making borrowing 's that are not | :03:32. | :03:36. | |
sustainable and they will struggle as interest rates go up. But we have | :03:37. | :03:40. | |
had a very low interest rates go up. But we have had a very low interest | :03:41. | :03:43. | |
rate environment in Asia, that using has been continuing in countries | :03:44. | :03:49. | |
like China over the past year -- easing. What will this mean for | :03:50. | :03:54. | |
monetary policy? You can see the difference in Asia between those | :03:55. | :03:57. | |
companies that have been getting policy right in the last couple of | :03:58. | :04:01. | |
years and those that have not. Some poor performers like Indonesia have | :04:02. | :04:04. | |
been forced to keep monetary policy to keep monetary policy too tight at | :04:05. | :04:08. | |
a time when while other economies like India that have been putting | :04:09. | :04:11. | |
themselves in a better position, have been able to lower interest | :04:12. | :04:15. | |
rates and not be held up by the US so much. And the inflation rate in | :04:16. | :04:19. | |
the US seems to be rising just with the latest numbers that came out. | :04:20. | :04:23. | |
That is why there seems to be more pressure now on the Fed to raise the | :04:24. | :04:28. | |
cost of borrowing. Could Asia import this rising price from the US? Asia | :04:29. | :04:34. | |
is going to be importing them from the world. They are the key driver | :04:35. | :04:38. | |
behind US inflation now, the change in the oil price. It fell by 40 -50% | :04:39. | :04:46. | |
around this time last year and that is when the numbers fell off the | :04:47. | :04:50. | |
annual figures. We can except the inflation rates to pick up | :04:51. | :04:52. | |
everywhere as that effect disappears but even apart from that, US core | :04:53. | :05:00. | |
inflation is just under 2%. It is certainly not the case for near zero | :05:01. | :05:09. | |
interest rates in a case. In other business news making headlines, the | :05:10. | :05:12. | |
list of the world's wealthiest women have long featured the likes of the | :05:13. | :05:20. | |
L'Oreal heiress and members of the Walmart family but self-made | :05:21. | :05:23. | |
billionaires from China, Hong Kong and India are now leading the charge | :05:24. | :05:27. | |
and one of them is this woman that you see on our screens. The Chinese | :05:28. | :05:31. | |
poverty developer. She features in the new global wealth report from | :05:32. | :05:36. | |
UBS bank which found from the number of females on the list, it has | :05:37. | :05:41. | |
increased sevenfold in the past two decades. Profits in product have | :05:42. | :05:46. | |
fallen by more than a quarter in the nine months since October. That is a | :05:47. | :05:52. | |
drop of close to $234 million. The weaker Chinese currency following | :05:53. | :05:57. | |
their detail you a -- their devaluation of their currency this | :05:58. | :06:02. | |
year is responsible. The Australian and British arms of the pizza giant | :06:03. | :06:11. | |
Dominoes are working together to purchase a franchise in Germany. It | :06:12. | :06:16. | |
will create the largest pizza delivery group in Germany. Shares in | :06:17. | :06:21. | |
Australia's Dominoes enterprise has soared under this development. The | :06:22. | :06:26. | |
world Internet for him is kicking off in China, home to the most | :06:27. | :06:37. | |
Internet users in the world -- forum. The market is tightly managed | :06:38. | :06:45. | |
but one of those attending is Jack Ma, found of Alibaba. He gave his | :06:46. | :06:50. | |
view on where China's Internet potential lies. TRANSLATION: The | :06:51. | :06:54. | |
majority of Chinese are living in rural areas and that is a great | :06:55. | :07:00. | |
opportunity. With no Internet, they can hardly appreciate its potential. | :07:01. | :07:04. | |
Chinese farmers all have a phone in their hands, even before they really | :07:05. | :07:08. | |
know what a computer is and the point is, most mobiles can function | :07:09. | :07:15. | |
as computers so if we can reform the economy with the means of production | :07:16. | :07:19. | |
rural areas, would e-commerce technology, we will make a great | :07:20. | :07:22. | |
contribution to our country -- with. Google is targeting India. Its | :07:23. | :07:32. | |
top executives including this man, the company's Indian born chief | :07:33. | :07:38. | |
executive will be in India today. The firm is expected to reveal | :07:39. | :07:41. | |
initiatives for customers in developing nations. Most users in | :07:42. | :07:45. | |
India use low-cost smartphones and Google wants to increase the | :07:46. | :07:49. | |
Internet access in this fast expanding market. Our correspondent | :07:50. | :07:54. | |
caught up with the Google executive to find out how the firm plans to do | :07:55. | :07:58. | |
this. We have to work with our partners to bring high-quality and | :07:59. | :08:06. | |
activity. We also think about how to monitor our products so that they | :08:07. | :08:09. | |
are much better when there is a lack of connectivity or even when users | :08:10. | :08:13. | |
are off-line. We launched YouTube off-line last year for example and | :08:14. | :08:17. | |
it has been heavily used across India. We launched Google Maps | :08:18. | :08:21. | |
off-line a while back which is working brilliantly. We have a | :08:22. | :08:24. | |
transit app that also works off-line. You launched a low-cost | :08:25. | :08:31. | |
device in India last year but the android one didn't really receive | :08:32. | :08:36. | |
that kind of reaction you expected. Have you been disappointed? We | :08:37. | :08:40. | |
not disappointed. The real reason for us doing that was that we wanted | :08:41. | :08:44. | |
to play a catalytic role in making the system much better, so we | :08:45. | :08:51. | |
started it in India last year and have now expanded to over 120 | :08:52. | :08:54. | |
countries and it is doing very well in many places but really the goal | :08:55. | :09:00. | |
of our success in the Android launches what happens when you walk | :09:01. | :09:03. | |
into a store in Delhi today. You will see many more programmes | :09:04. | :09:11. | |
offering the Android. Also free updates. This was not the case a | :09:12. | :09:18. | |
couple of years ago. Does the India experience really allow you to roll | :09:19. | :09:20. | |
out these products better across the world? In many ways we see India as | :09:21. | :09:27. | |
establishing the way users in Southeast Asia, in Africa | :09:28. | :09:34. | |
America use the Internet. The context is the same. Connectivity is | :09:35. | :09:37. | |
a challenge, price is a challenge, the amount you pay for conductivity | :09:38. | :09:45. | |
is a challenge, so when we launched YouTube off-line here in India | :09:46. | :09:48. | |
first, we were able to bring it to many other countries and we saw very | :09:49. | :09:56. | |
similar results. Before we go, here is a quick | :09:57. | :10:05. | |
come out waiting for that decision on the cost of borrowing. The Nikkei | :10:06. | :10:10. | |
is nearing the results of Wall Street overnight -- mirroring. The | :10:11. | :10:20. | |
Hang Seng is up. On Wall Street, triple digit gains for the Dow Jones | :10:21. | :10:26. | |
industrial average. Thank you for investing your time with us. Bye-bye | :10:27. | :10:30. | |
for now. Our top story: A BBC team travelling | :10:31. | :10:38. | |
to islands in the South China Sea has witnessed large-scale | :10:39. | :10:43. | |
destruction of a reef by Chinese | :10:44. | :10:46. |