Browse content similar to 30/08/2016. Check below for episodes and series from the same categories and more!
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for changes to the Treaty which allows British officials to check | :00:00. | :00:00. | |
passports in Calais. Now for the business report. | :00:07. | :00:14. | |
Banking on disparity or a future that to lenders are due to abort. | :00:15. | :00:26. | |
What was to blame or this disaster in Brazil was make the world 's | :00:27. | :00:33. | |
biggest company -- mining company unveils its findings. Good morning, | :00:34. | :00:46. | |
Asia, hello, world. ICB Sea and the bank of China are set to reveal | :00:47. | :00:52. | |
their latest earnings today. They have enjoyed strong growth in | :00:53. | :00:55. | |
profits but things are slowing down and there are concerns about the | :00:56. | :01:00. | |
banking system and the high levels of bad debt. | :01:01. | :01:07. | |
It is a big day for two of China's biggest banks but the outlook is not | :01:08. | :01:14. | |
particularly positive. That era of double-digit growth is well and | :01:15. | :01:20. | |
truly over for these institutions and now they are struggling to | :01:21. | :01:26. | |
return profits. OCBC by assets it is the biggest bank in the world. -- | :01:27. | :01:35. | |
ICB Sea. In the year gone by it has seen profits squeeze it down to the | :01:36. | :01:41. | |
low single digits. A similar story for the bank of China and there are | :01:42. | :01:46. | |
two main reasons that non- performing loans and state owned | :01:47. | :01:56. | |
enterprises, the zombie industry in coal and steel. They are asking them | :01:57. | :02:02. | |
to give these companies that are loan negotiated deals and also | :02:03. | :02:07. | |
sometimes get caught equity swaps and that is coming at the same time | :02:08. | :02:13. | |
as it is bad loans are coming home to roost. We had years of ultra- low | :02:14. | :02:20. | |
interest rates, increased liquidity in the economy and at the same time | :02:21. | :02:25. | |
we are having a convergence of these two significant issues which is | :02:26. | :02:29. | |
proving hugely critical for the economy and particularly for its big | :02:30. | :02:32. | |
banks. A report blames construction for | :02:33. | :02:45. | |
this disaster. Hundreds were left homeless and toxic material was | :02:46. | :03:00. | |
released into the river. These findings, we have to first remember | :03:01. | :03:05. | |
they are a panel specialist commissioned by the companies say | :03:06. | :03:07. | |
they brought in an outside group but this has nothing to do with the | :03:08. | :03:12. | |
formal investigation by the Brazilian authorities. They studied | :03:13. | :03:19. | |
event that happened and try to not caution any blame to any single | :03:20. | :03:23. | |
person. The findings basically are that the dams built were supposed to | :03:24. | :03:29. | |
separate the slime from San tailings. When it is to mix | :03:30. | :03:37. | |
together, the sand became more liquid and that is what caused the | :03:38. | :03:41. | |
flooding and the mudslides. That should not have happened. It | :03:42. | :03:51. | |
happened because of basic changes to the project around 2011. When will | :03:52. | :03:58. | |
the government come out with its own investigation regarding this | :03:59. | :04:04. | |
accident was back earlier this year, Brazilian police already indicted | :04:05. | :04:08. | |
seven people. They are answering charges of many things. Not only did | :04:09. | :04:15. | |
the authorities say the dam was not well constructed but also they said | :04:16. | :04:20. | |
there was faulty equipment and not good enough emergency plans. None of | :04:21. | :04:30. | |
that was in the report today. The company will answer for those | :04:31. | :04:37. | |
charges and they will be trialled - we do not have a date yet. Apple | :04:38. | :04:47. | |
could be ordered to pay billions of euros in fact taxes in the Republic | :04:48. | :04:51. | |
of Ireland. A final hearing on the European Union competition officials | :04:52. | :04:57. | |
is expected on Tuesday, following an investigation. Both Apple and the | :04:58. | :05:03. | |
Irish government are likely to appeal against the ruling. Taking a | :05:04. | :05:07. | |
look at the chocolate market, shares in Hershey have plunged 12% after | :05:08. | :05:15. | |
they rejected a $23 billion takeover by a snack giant which makes Oreo | :05:16. | :05:22. | |
cookies. -- 23 million. It would have created the world 's biggest | :05:23. | :05:27. | |
candy maker. East Timor and Australia have begun talks aimed at | :05:28. | :05:31. | |
resolving a long-running dispute over the maritime boundary and the | :05:32. | :05:37. | |
resources that lie between the two countries. Currently a number of | :05:38. | :05:41. | |
treaties divide up or you'll and gas reserves in a joint petroleum | :05:42. | :05:51. | |
development area. Why is the more pushing for a permanent boundary to | :05:52. | :05:58. | |
give it control of greater fields? It is a big petroleum development | :05:59. | :06:05. | |
project, or it would be. It could be 20 - 30 million dollars which is a | :06:06. | :06:11. | |
huge amount. There is a notion of national pride. East Timor sees this | :06:12. | :06:15. | |
as a continuation of its independence struggle and it is the | :06:16. | :06:20. | |
last bit of struggle of unfinished is that which would give it the | :06:21. | :06:25. | |
respect of true nationhood. But an agreement is an agreement. That is | :06:26. | :06:32. | |
Australia's argument. On the practical level they say it has been | :06:33. | :06:36. | |
defeated both countries are very, very well and there is no reason to | :06:37. | :06:40. | |
change it and in fact they really do not like to be dragged before this | :06:41. | :06:47. | |
conciliation commission and say that the more dragging Australia to the | :06:48. | :06:53. | |
commission is quite willingly. -- East Timor. It is in fact a breach | :06:54. | :06:58. | |
of the treaty arrangement. They actually came out and said at the | :06:59. | :07:04. | |
beginning that they do not think this conciliation commission is | :07:05. | :07:07. | |
competent in a legal sense to hear its claims. East Timor uses the term | :07:08. | :07:13. | |
national pride, this is our property. What happens next? This | :07:14. | :07:21. | |
commission is not in any way binding and does not have any basis on | :07:22. | :07:24. | |
knowledge of where it might go because it is the first time it has | :07:25. | :07:28. | |
been tried. Both sides might go away and toss aside whatever this | :07:29. | :07:33. | |
commission comes up with but East Timor could in theory just pull out | :07:34. | :07:40. | |
of the existing treaty arrangement and tried to negotiate again but who | :07:41. | :07:46. | |
knows which way things would go. We will be watching this test case very | :07:47. | :07:54. | |
closely. Shenzhen is famous for making electronics but also now a | :07:55. | :07:59. | |
popular spot for start-ups from all over the world and we spoke to one | :08:00. | :08:07. | |
country. We find out how they are helping innovators get their ideas | :08:08. | :08:09. | |
off the drawing board. Hax is a hardware ex of a rate that | :08:10. | :08:49. | |
case company from prototype stage all the way up to launch. It is all | :08:50. | :08:57. | |
about speed and that is why we take it to Shenzhen. It is superfast and | :08:58. | :09:01. | |
it is almost impossible anywhere else in the world. If I wanted to | :09:02. | :09:07. | |
make something - in London I would have to spend ?200 and it would take | :09:08. | :09:15. | |
me about four days to two weeks to have that delivered whereas in | :09:16. | :09:20. | |
Shenzhen they and printed in 24 hours for ?20. | :09:21. | :09:29. | |
We provide the team with funding, $100,000, we take 9% equity in these | :09:30. | :09:41. | |
companies. We provide them with hands-on help. We have 15 full-time | :09:42. | :09:46. | |
staff. The biggest advantage of Hax is that the people here. Being able | :09:47. | :09:51. | |
to sort things fast and soon enough. Start-ups in China. Before we go, a | :09:52. | :10:19. | |
quick look at the market... This is after US stocks gained overnight due | :10:20. | :10:28. | |
to consumer spending. US job report coming out at the end of the week. | :10:29. | :10:32. | |
Thank you for investing your time with us. Bye for now. | :10:33. | :10:40. | |
The top stories: Dilma Rousseff has urged senators to vote for democracy | :10:41. | :10:48. | |
and against | :10:49. | :10:49. |