:00:00. > :00:14.Now on BBC News, all the latest business news live from Singapore.
:00:15. > :00:27.It has been weeks off back and forth but finally Sharp will be taken
:00:28. > :00:32.over. As part deal closes up shop in the UK, what does it mean for the
:00:33. > :00:38.Indian company's global business? -- as Tata Steel closes up.
:00:39. > :00:47.Welcome to Asia Business Report. It is a deal that has been a longtime
:00:48. > :00:52.in the making and Taiwan's fox commonwealth takeover Japan's
:00:53. > :01:02.struggling economics giant Sharp. -- Foxcom. The tag is to be 3.5 million
:01:03. > :01:06.dollars, US, $900 million less than offered one month ago. That was
:01:07. > :01:14.before more details were revealed about Sharp's debt. Earlier I spoke
:01:15. > :01:21.to somebody from the KU has been following the negotiations. -- from
:01:22. > :01:31.Nikkei. This deal marks a juncture in Foxcom's as you will of
:01:32. > :01:45.revenues. There is a faltering global issue and I do believe...
:01:46. > :01:48.INAUDIBLE. Yes, this is a way forward for both companies and it
:01:49. > :01:55.will be interesting to see what they are going to do in their joint
:01:56. > :01:59.collaboration in the future. Indeed. There have been many reports
:02:00. > :02:03.about wholesale management changes at Sharp once Foxcom takes over.
:02:04. > :02:07.What do you think their plans are for the company? Will they keep it
:02:08. > :02:19.as the group as it is now, or sell bits of? Basically Foxcom said it is
:02:20. > :02:24.investing in Sharp strategically, although Foxcom is taking control of
:02:25. > :02:28.Sharp. I believe Foxcom will apply its operational efficiency on Sharp
:02:29. > :02:35.so that Sharp can become more popular in the future and then
:02:36. > :02:40.Foxcom can jumpstart the brand and secure more orders in the mobile
:02:41. > :02:48.gadget market. Is the key for Foxcom the consumer brand of Sharp? It is
:02:49. > :02:59.actually one of the parts of what Foxcom is after. Basically it is
:03:00. > :03:05.looking to transition from a contract manufacturer into a brand
:03:06. > :03:12.business. At the same time, Foxcom was to depend on Sharp's business.
:03:13. > :03:20.So it will see if it can get more orders and also try to secure more
:03:21. > :03:23.orders from other smartphone brands. In other news, some of China's
:03:24. > :03:29.largest banks have reported lacklustre earnings growth. Profits
:03:30. > :03:34.for the industrial and commercial bank of China and China Construction
:03:35. > :03:43.Bank oath grew by 0.5% industrywide. -- both grew. Agricultural Bank of
:03:44. > :03:49.China, the third-largest lender in the country, will have its results
:03:50. > :03:54.today. South Korea's industrial output grew at its fastest rate in
:03:55. > :04:01.more than six years, as demand for smartphones and cars drove activity.
:04:02. > :04:11.There was a fall of 1.8% the previous month. A decision by Indian
:04:12. > :04:17.giant Tata to sell its loss-making steel plants in the UK has sent
:04:18. > :04:22.shock waves through Britain. The UK is just one part of the global steel
:04:23. > :04:29.enterprise. We have been speaking to Tata Steel's chief executive
:04:30. > :04:33.director. We asked if leaving the UK would affect its global reputation.
:04:34. > :04:39.We are a business enterprise at the end of the day. I think we will do
:04:40. > :04:47.all that is necessary to preserve their reputation and preserve the
:04:48. > :04:52.lives of the people. The question is, at one point in time the company
:04:53. > :04:57.was public listed and it is accountable to stakeholders and
:04:58. > :05:02.shareholders. Therefore, a time comes when such exposure is
:05:03. > :05:10.unavailable. We just hope that we work towards, without stakeholders,
:05:11. > :05:13.employers and unions, defined a solution which is potentially the
:05:14. > :05:18.best solution under these circumstances and that's what our
:05:19. > :05:23.aim is. When the takeover happened there was almost a sense of pride,
:05:24. > :05:27.especially in India, that an Indian company was taking over a company in
:05:28. > :05:32.the UK and becoming the UK's weakest steel company. Where does this
:05:33. > :05:38.announcement leave you today? -- biggest steel company. It is part of
:05:39. > :05:46.our business strategy, but we didn't come to this decision in one or five
:05:47. > :05:50.years. The world has changed significantly and completely as far
:05:51. > :05:55.as the steel industry is concerned. Firstly the global financial crisis
:05:56. > :06:00.in 2008, which is about two years from when we acquired it. At that
:06:01. > :06:05.point in time the development of markets, which had a fairly steady
:06:06. > :06:08.demand position, including in Europe, went through a collapse
:06:09. > :06:14.because of the liquidity problems and so on. And we have seen a
:06:15. > :06:19.structural change in demand by about 30% post crisis. In the last few
:06:20. > :06:28.years we have significant capacity coming out of China, which has
:06:29. > :06:31.flooded the markets. So the dynamics of the steel industry globally have
:06:32. > :06:36.changed significantly, compared to the time of the acquisition. Would
:06:37. > :06:43.you say the strategy was a mistake? Not at all. I think it is a question
:06:44. > :06:47.of the strategy looking at future scenarios. If there was anybody who
:06:48. > :06:53.could have predicted the global financial crisis in 2008 we would be
:06:54. > :06:59.in a very different position and certainly, if I may say so, it was
:07:00. > :07:06.not correctable. That was one of the biggest issues that happened in this
:07:07. > :07:11.whole acquisition process. Tata Steel's group executive director
:07:12. > :07:15.talking to us. Mental health problems are thought
:07:16. > :07:21.to cost the Australian -- Australian economy some $8 billion a year. It
:07:22. > :07:25.is said absenteeism and reduced productivity from unwell workers are
:07:26. > :07:28.hurting business. Now companies, the health sector and the government
:07:29. > :07:29.have come together for a national campaign promoting mentally healthy
:07:30. > :07:42.workplaces. This report from Sydney. About one in five Australian workers
:07:43. > :07:53.are experiencing some kind of mental health issue. Two suicides in my
:07:54. > :08:00.family, depression and anxiety. This father and -- this man is a director
:08:01. > :08:05.of a nationwide firm of landscape architects and has battled his own
:08:06. > :08:08.demons. For him there are three key ingredients for a mentally healthy
:08:09. > :08:13.workplace. In gender a culture of openness. There's nothing you can't
:08:14. > :08:17.talk about and I mean nothing. The second is observation, which is just
:08:18. > :08:21.keeping your eyes and ears open. If someone is struggling a talk to
:08:22. > :08:26.their colleagues and that works its way up if they wanted to. The
:08:27. > :08:27.structure should allow that, people understanding their roles and
:08:28. > :08:32.objectives and then enjoying the ride. Part of Australia's mental
:08:33. > :08:39.health problem is people who are addicted to work, or workaholics.
:08:40. > :08:42.Combine that with long hours, job insecurity and the pressure to
:08:43. > :08:47.perform and it is hardly surprising that cracks start to appear. The
:08:48. > :08:53.government has recognised that mental illness harms Australia's
:08:54. > :08:56.productivity and has promised to overhaul support services. Lost
:08:57. > :09:01.productivity through an treated depression in the loan -- alone in
:09:02. > :09:05.the workplace is costing Australian businesses just under $11 billion a
:09:06. > :09:08.year. Companies in Australia are more aware of the corrosive effects
:09:09. > :09:15.of mental health problems than ever. But the Stig -- stigma of
:09:16. > :09:21.depression still lingers. Think twice before you disclose to your
:09:22. > :09:25.workplace, because I still hear horror stories far too often of
:09:26. > :09:28.people who have taken a step and said, I've just been diagnosed with
:09:29. > :09:34.depression, or I am really struggling and they get marched out
:09:35. > :09:40.and given a box and marched off the premises. This is an illness, not a
:09:41. > :09:43.sign of weakness or character trait. You don't leave your depression at
:09:44. > :09:48.the door when you come to work. Bright and optimistic is how the
:09:49. > :09:51.world often sees Australia, but this is a country that is still
:09:52. > :09:57.struggling to lift the burdens from a stressed out workforce.
:09:58. > :10:04.Let's have a look at the markets. If we look at how Asian markets open,
:10:05. > :10:14.the Hang Seng was opened yesterday. The Nikkei is up .5%. The All Ords
:10:15. > :10:18.making solid gains, up 1.6%. The US really set the tone for two days in
:10:19. > :10:23.a row. It has moved into positive territory. Investors still digestive
:10:24. > :10:28.those words from Janet Yellen about a more cautious approach to interest
:10:29. > :10:29.rates. That's it for this edition of Asia Business Report. Thanks for
:10:30. > :10:40.watching.