27/05/2016 Asia Business Report

The GSM G7 summit is about to end we will find out what they decided

about global economy. And hiding behind masks - the US residential

election. Good morning Asia, hello, world. I am glad you could join us.

The leaders of the G7 countries will be concluding talks today and all

eyes will be on the wording of their final communique, the document

detailing what they agreed on. Security has been major focus so far

with the South China Sea and Islamic State being discussed but also the

world economy looming large. These are the superheroes of the G7 summit

or that is what they would like you to believe. We have Prime Minister

David Cameron, his big agenda Will Beatty convinced his partners to

come out with strong statement. About Brexit. -- will be to

convince. China's ambition in the South China Sea. Angela Merkel, the

refugee crisis is something she wants the rest of the world to take

responsibility for. Japan and Shinzo Abe saying the global economy should

be fixed by spending more - fiscal stimulus is the way to go. Last but

not least, the Canadian Prime Minister has been adding special

shine to photo opportunities. Behind the scenes, it is also an

opportunity for Japan to showcase technological innovations, key to

boosting the economy here. Meet one of its robots. This is the

contribution to the event and are balking, talking robot that can be

much do everything, including dance. Watch this...

Japan is also trying to showcase some of its traditional delight but

this is coming against an extremely serious backdrop of events which the

leaders of the G7 countries need to address and, if past experience is

anything to go by, it is unlikely any concrete action will come out of

this summit that it is an opportunity for the leaders to sit

down at the table, drink some Japanese to, or in away they are not

usually able to have in-depth conversations about some of the more

pressing problems they are facing together. Very interesting G7

summit, in Japan. Better than expected US economic data has

significantly increased predictions. Market traders have put

the probability of one in three of an increase this June. The move by

July is more likely than not. Is it the time finally write to raise the

cost of borrowing? We asked James Bullard whether we can expect our

move. The market probability has moved off the low levels to come up

to something that is more positive and probably better reflects the

reality. What about negative interest rates? We have seen it

adopted in Europe and Japan. I starting to think of it as attacks.

Taxing the banks in away you were not before. -- A tax. The Boris of

the bank have to pay more, -- Boris. I do not rule it out but do

not think it is likely possibility for the US. We are trying to go in

the other direction so for the foreseeable future we will not sit

negative interest rates in the US. On Brexit, I think this is an

important decision for the UK but it is A strategic decision that will

determine direction over along period of time. As far as the

financial event globally, I do not think it is all that critical. The

day before Brexit and the day after will be the same no matter what the

electorate votes. They will be negotiations that take many years if

they decide to leave. Even those negotiations will probably end up

with trade agreements which are reflection of existing agreements.

It is important for the UK, strategically speaking, but in terms

of global financial markets and the way they behave I not sure it would

have much impact on that. Full oil prices, they are continuing steady

upward climb. You are screwed above $50 per barrel. However they settle

below $50 per barrel. Prices lifted 90% above 12 year lows earlier this

year. Japan's oil prices falling. According to the latest government

figures. It is the second straight month of decline and keeping the

central bank under pressure to deploy additional stimulus. Snapchat

has raised 1.80 dollars in funding. The company makes free mobile app

which allows users to send images etc which will then vanish. Its

revenues come mostly from advertising. The US Federal jury has

sided with Google in $9 billion claim right technology rival Oracle.

Oracle claims Google stole some of its Java software. The jury has

found Google did not need Oracle's position to use the element of Java

in question. They may be considering an appeal. Now, with every election,

there is business opportunity and none more with the US presidential

election and in China, the factory will be churning out thousands of

these masks of Hillary Clinton and Donald Trump - that is who these

are. It is betting on Donald Trump. Donald Trump says Chinese factories

are stealing American jobs. Well, this one has pinched something else,

his face, and they have rendered at in plastic. The production process

offers no clues to those perplexed by his curious hair. It is

questionable proposition, but if masked sales are reliable gauge of

US sentiment, he could be looking bright for the controversial

Republican contender. TRANSLATION: To be frank, I prefer Donald Trump

to Hillary Clinton. I think this mask will completely sell-out

because he is getting quite popular, so I prefer him. We have

built stockpile of him because we think the US will probably vote more

for him so we made the necessary changes because we do not want to

miss out. If he is right, he would want to get in before the election

in case Donald Trump smacks attacks on importing goods. If rather Donald

Trump looks stern, rather Hillary Clinton is all smiles although, they

are not exactly airbrushing her. TRANSLATION: It has been down to our

designer. The main thing we considered at the actual features of

Hillary's face, for example to wrinkles. That way the effect is

more realistic. You can see with all the details, all of these wrinkles,

we have considered all the tiniest details. Recent polls show the

presidential race narrowing. The masks are also make and neck at

around half million each. Looking forward to owning one. Thank you so

much for investing your time with us. Sport Today is coming up next.

See you in the next hour.