:00:00. > :00:00.for changes to the Treaty which allows British officials to check
:00:07. > :00:14.passports in Calais. Now for the business report.
:00:15. > :00:26.Banking on disparity or a future that to lenders are due to abort.
:00:27. > :00:33.What was to blame or this disaster in Brazil was make the world 's
:00:34. > :00:46.biggest company -- mining company unveils its findings. Good morning,
:00:47. > :00:52.Asia, hello, world. ICB Sea and the bank of China are set to reveal
:00:53. > :00:55.their latest earnings today. They have enjoyed strong growth in
:00:56. > :01:00.profits but things are slowing down and there are concerns about the
:01:01. > :01:07.banking system and the high levels of bad debt.
:01:08. > :01:14.It is a big day for two of China's biggest banks but the outlook is not
:01:15. > :01:20.particularly positive. That era of double-digit growth is well and
:01:21. > :01:26.truly over for these institutions and now they are struggling to
:01:27. > :01:35.return profits. OCBC by assets it is the biggest bank in the world. --
:01:36. > :01:41.ICB Sea. In the year gone by it has seen profits squeeze it down to the
:01:42. > :01:46.low single digits. A similar story for the bank of China and there are
:01:47. > :01:56.two main reasons that non- performing loans and state owned
:01:57. > :02:02.enterprises, the zombie industry in coal and steel. They are asking them
:02:03. > :02:07.to give these companies that are loan negotiated deals and also
:02:08. > :02:13.sometimes get caught equity swaps and that is coming at the same time
:02:14. > :02:20.as it is bad loans are coming home to roost. We had years of ultra- low
:02:21. > :02:25.interest rates, increased liquidity in the economy and at the same time
:02:26. > :02:29.we are having a convergence of these two significant issues which is
:02:30. > :02:32.proving hugely critical for the economy and particularly for its big
:02:33. > :02:45.banks. A report blames construction for
:02:46. > :03:00.this disaster. Hundreds were left homeless and toxic material was
:03:01. > :03:05.released into the river. These findings, we have to first remember
:03:06. > :03:07.they are a panel specialist commissioned by the companies say
:03:08. > :03:12.they brought in an outside group but this has nothing to do with the
:03:13. > :03:19.formal investigation by the Brazilian authorities. They studied
:03:20. > :03:23.event that happened and try to not caution any blame to any single
:03:24. > :03:29.person. The findings basically are that the dams built were supposed to
:03:30. > :03:37.separate the slime from San tailings. When it is to mix
:03:38. > :03:41.together, the sand became more liquid and that is what caused the
:03:42. > :03:51.flooding and the mudslides. That should not have happened. It
:03:52. > :03:58.happened because of basic changes to the project around 2011. When will
:03:59. > :04:04.the government come out with its own investigation regarding this
:04:05. > :04:08.accident was back earlier this year, Brazilian police already indicted
:04:09. > :04:15.seven people. They are answering charges of many things. Not only did
:04:16. > :04:20.the authorities say the dam was not well constructed but also they said
:04:21. > :04:30.there was faulty equipment and not good enough emergency plans. None of
:04:31. > :04:37.that was in the report today. The company will answer for those
:04:38. > :04:47.charges and they will be trialled - we do not have a date yet. Apple
:04:48. > :04:51.could be ordered to pay billions of euros in fact taxes in the Republic
:04:52. > :04:57.of Ireland. A final hearing on the European Union competition officials
:04:58. > :05:03.is expected on Tuesday, following an investigation. Both Apple and the
:05:04. > :05:07.Irish government are likely to appeal against the ruling. Taking a
:05:08. > :05:15.look at the chocolate market, shares in Hershey have plunged 12% after
:05:16. > :05:22.they rejected a $23 billion takeover by a snack giant which makes Oreo
:05:23. > :05:27.cookies. -- 23 million. It would have created the world 's biggest
:05:28. > :05:31.candy maker. East Timor and Australia have begun talks aimed at
:05:32. > :05:37.resolving a long-running dispute over the maritime boundary and the
:05:38. > :05:41.resources that lie between the two countries. Currently a number of
:05:42. > :05:51.treaties divide up or you'll and gas reserves in a joint petroleum
:05:52. > :05:58.development area. Why is the more pushing for a permanent boundary to
:05:59. > :06:05.give it control of greater fields? It is a big petroleum development
:06:06. > :06:11.project, or it would be. It could be 20 - 30 million dollars which is a
:06:12. > :06:15.huge amount. There is a notion of national pride. East Timor sees this
:06:16. > :06:20.as a continuation of its independence struggle and it is the
:06:21. > :06:25.last bit of struggle of unfinished is that which would give it the
:06:26. > :06:32.respect of true nationhood. But an agreement is an agreement. That is
:06:33. > :06:36.Australia's argument. On the practical level they say it has been
:06:37. > :06:40.defeated both countries are very, very well and there is no reason to
:06:41. > :06:47.change it and in fact they really do not like to be dragged before this
:06:48. > :06:53.conciliation commission and say that the more dragging Australia to the
:06:54. > :06:58.commission is quite willingly. -- East Timor. It is in fact a breach
:06:59. > :07:04.of the treaty arrangement. They actually came out and said at the
:07:05. > :07:07.beginning that they do not think this conciliation commission is
:07:08. > :07:13.competent in a legal sense to hear its claims. East Timor uses the term
:07:14. > :07:21.national pride, this is our property. What happens next? This
:07:22. > :07:24.commission is not in any way binding and does not have any basis on
:07:25. > :07:28.knowledge of where it might go because it is the first time it has
:07:29. > :07:33.been tried. Both sides might go away and toss aside whatever this
:07:34. > :07:40.commission comes up with but East Timor could in theory just pull out
:07:41. > :07:46.of the existing treaty arrangement and tried to negotiate again but who
:07:47. > :07:54.knows which way things would go. We will be watching this test case very
:07:55. > :07:59.closely. Shenzhen is famous for making electronics but also now a
:08:00. > :08:07.popular spot for start-ups from all over the world and we spoke to one
:08:08. > :08:09.country. We find out how they are helping innovators get their ideas
:08:10. > :08:49.off the drawing board. Hax is a hardware ex of a rate that
:08:50. > :08:57.case company from prototype stage all the way up to launch. It is all
:08:58. > :09:01.about speed and that is why we take it to Shenzhen. It is superfast and
:09:02. > :09:07.it is almost impossible anywhere else in the world. If I wanted to
:09:08. > :09:15.make something - in London I would have to spend ?200 and it would take
:09:16. > :09:20.me about four days to two weeks to have that delivered whereas in
:09:21. > :09:29.Shenzhen they and printed in 24 hours for ?20.
:09:30. > :09:41.We provide the team with funding, $100,000, we take 9% equity in these
:09:42. > :09:46.companies. We provide them with hands-on help. We have 15 full-time
:09:47. > :09:51.staff. The biggest advantage of Hax is that the people here. Being able
:09:52. > :10:19.to sort things fast and soon enough. Start-ups in China. Before we go, a
:10:20. > :10:28.quick look at the market... This is after US stocks gained overnight due
:10:29. > :10:32.to consumer spending. US job report coming out at the end of the week.
:10:33. > :10:40.Thank you for investing your time with us. Bye for now.
:10:41. > :10:48.The top stories: Dilma Rousseff has urged senators to vote for democracy
:10:49. > :10:49.and against