Browse content similar to 03/10/2016. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
As the Deutsche Bank executives had to Washington, can Germany's biggest | :00:15. | :00:20. | |
bank reach agreement with US authorities? And packing their bags | :00:21. | :00:27. | |
for a week-long break, find out where Chinese too -- tourist will | :00:28. | :00:36. | |
spend their money this golden week holiday. Good morning, welcome to | :00:37. | :00:44. | |
Asia Business Report from Singapore. The future of Germany's biggest bank | :00:45. | :00:48. | |
is stirring up markets around the world. Deutsche Bank has been told | :00:49. | :00:52. | |
to pay a whopping $14 billion fine by the US for alleged wrongdoing | :00:53. | :00:58. | |
leading up to the financial crisis in 2008 but now it might be close to | :00:59. | :01:03. | |
agreeing a settlement with the authorities and would like to do so | :01:04. | :01:07. | |
before next month's presidential election. Earlier I spoke with Tony | :01:08. | :01:11. | |
Nash and asked about the likelihood of a deal being reached this week. | :01:12. | :01:17. | |
They will certainly try. Nobody wants to put Deutsche bank in danger | :01:18. | :01:21. | |
but in fact they did break serious guidelines. The real issue with | :01:22. | :01:26. | |
Deutsche bank is this, a $14 billion ruling right now has to be | :01:27. | :01:31. | |
negotiated down. If anything is more than $4 billion, given the cash that | :01:32. | :01:36. | |
Deutsche Bank has set aside, they have to raise funds. That will be | :01:37. | :01:40. | |
diverted to the current shareholders. The big question | :01:41. | :01:45. | |
investors have been posing was whether the German government might | :01:46. | :01:49. | |
step in to bail them out. Do you think that is a possibility? I think | :01:50. | :01:55. | |
it is a possibility but I think given the hard line that the German | :01:56. | :01:59. | |
government has had about other banking difficulties in other | :02:00. | :02:04. | |
countries within the EU, it would be politically difficult to step in. | :02:05. | :02:09. | |
There has been some gossip about the German government taking a 20% stake | :02:10. | :02:13. | |
in Deutsche Bank but whether or not it is true we are not sure. We saw | :02:14. | :02:18. | |
an impact on the market in the US and Europe. We haven't seen much of | :02:19. | :02:23. | |
an impact just yet in Asian markets but could this be a moment when | :02:24. | :02:31. | |
Asian shares are affected as well? I don't necessarily think so. What | :02:32. | :02:36. | |
Deutsche Bank has done is, I saw this morning, and mounting a | :02:37. | :02:40. | |
thousand headcount cut. They have 101,000 staff. Deutsche Bank will | :02:41. | :02:45. | |
have to look much harder at staffing and cut much harder in order to save | :02:46. | :02:50. | |
costs. Revenues have been very hard one and very difficult over the last | :02:51. | :02:54. | |
few years for Deutsche Bank but their cost base hasn't been cut | :02:55. | :02:59. | |
back. So they have a really difficult time and they have to add | :03:00. | :03:04. | |
value their costs. This makes a big statement about the state of first | :03:05. | :03:08. | |
of all European banking and secondly global banking. With repeated | :03:09. | :03:11. | |
government intervention to save banks it makes a much bigger | :03:12. | :03:15. | |
statement, whether talking about debt in China, Italy, Deutsche Bank | :03:16. | :03:23. | |
or even American banking issues. The state of banking globally needs a | :03:24. | :03:29. | |
closer look. It is Golden Week in China which means hundreds of | :03:30. | :03:32. | |
millions of people have packed their bags and taken off to various | :03:33. | :03:36. | |
vacation spots. Let's take out where they are heading and how some | :03:37. | :03:39. | |
countries are making Chinese tourists feel welcome. | :03:40. | :04:44. | |
Well, earlier I spoke with Nelson Allen from hotels.com Asia-Pacific | :04:45. | :04:52. | |
and I asked him the other popular destination for Chinese tourists. A | :04:53. | :04:56. | |
lot of going to Japan this week and it is a little different in years | :04:57. | :05:00. | |
past. I think Tokyo and Osaka are still growing but not as much as | :05:01. | :05:08. | |
second and third tier cities, like Okinawa and elsewhere, doubling the | :05:09. | :05:12. | |
orders that we saw last year. They are still travelling to Japan but | :05:13. | :05:16. | |
they are looking for new experiences and they want to go to places they | :05:17. | :05:20. | |
have never been before. Have there been destinations that have | :05:21. | :05:26. | |
surprised you that they have decided to go to? On a survey we do, the | :05:27. | :05:33. | |
Chinese Travel Monitor, asking whether you want to go, and they | :05:34. | :05:37. | |
have said the pyramids of Giza in Egypt or Mount Fuji in Japan, the | :05:38. | :05:41. | |
Himalayas in Nepal, these are bold places to go. On are the days of the | :05:42. | :05:47. | |
Eiffel Tower and Big Ben. We are impressed by how audacious some of | :05:48. | :05:52. | |
the plans are at it plays out in the booking data. In other news making | :05:53. | :05:56. | |
headlines this morning, electric car maker Tesla saw global deliveries of | :05:57. | :06:01. | |
its cars double in the third quarter had with one year ago. In the three | :06:02. | :06:07. | |
months to September they delivered 24,500 cars, the majority was the | :06:08. | :06:13. | |
model S. The latest figures are in courage in for the Californian firm | :06:14. | :06:16. | |
which suffered a bigger than expected loss in the second quarter. | :06:17. | :06:21. | |
India has formally joined the Paris agreement on tackling climate | :06:22. | :06:26. | |
change, agreed by nearly 200 countries in Paris last year with | :06:27. | :06:30. | |
the aim to slash greenhouse gas emissions by moving away from. Feels | :06:31. | :06:36. | |
to limit global warming. -- moving away from fossil fuels to limit | :06:37. | :06:40. | |
global warming. This represents at least 55% of global carbon dioxide | :06:41. | :06:47. | |
emissions. The US and China joined last month, India is the world's | :06:48. | :06:53. | |
third biggest emitter of greenhouse gases. Now, most of you would | :06:54. | :07:01. | |
recognise India's Bollywood megastar Bachchan. Now he is starring in | :07:02. | :07:06. | |
films exploring social issues that affect Indians. His latest film | :07:07. | :07:10. | |
touches on feminism and attitudes towards women in India. We spoke | :07:11. | :07:16. | |
with the actor and asked him whether the gender pay gap exists in the | :07:17. | :07:28. | |
film industry. I have encountered that before. There was a woman who | :07:29. | :07:35. | |
was paid more than me. She was the star. And that is OK. I am OK with | :07:36. | :07:40. | |
that. It is not just women working in films. It is in the sports world, | :07:41. | :07:45. | |
it is in the corporate world. I think things are changing. At least | :07:46. | :07:50. | |
people are talking about it. Maybe in the years to come there will be | :07:51. | :07:55. | |
some kind of an alteration. With the emergence of things like Netflix, | :07:56. | :07:58. | |
you are seeing movies watched online. Do you think we are going to | :07:59. | :08:03. | |
reach a stage in India where movies will maybe perhaps be released | :08:04. | :08:08. | |
online, will be consumed widely on the Internet? Yes, some of these | :08:09. | :08:14. | |
efforts were made earlier on. Maybe audiences were not prepared for it, | :08:15. | :08:18. | |
so they didn't do as well as they should have. Eventually, yes, I | :08:19. | :08:21. | |
think this is what is going to happen. The mobile is your closest | :08:22. | :08:27. | |
companion these days. Your information, connection, everything. | :08:28. | :08:30. | |
Entertainment, everything is on the mobile. So, yes. That will be a | :08:31. | :08:36. | |
challenge for all content makers. Whatever is happening in the western | :08:37. | :08:40. | |
world or other parts of the universe is instantly known to us and seen by | :08:41. | :08:44. | |
us. We have to compete with them. And that is wonderful. It is very | :08:45. | :08:49. | |
challenging. How to make films important and good enough to be able | :08:50. | :08:53. | |
to pull you off the drawing room and the TV set and on to the cinema | :08:54. | :08:57. | |
screen. What is the most exciting thing for you working in this day | :08:58. | :09:01. | |
and age in movies compared to say when you were working in the 70s or | :09:02. | :09:06. | |
the 80s? The opening up of the economy in India. We have access to | :09:07. | :09:10. | |
the most modern gadgetry that is coming out from the west. Celluloid | :09:11. | :09:19. | |
has been removed entirely. I don't know whether we can call it the film | :09:20. | :09:23. | |
industry because what do you call it? The digital industry? Are now | :09:24. | :09:31. | |
digital. -- all cameras are now digital. Film was the most expensive | :09:32. | :09:37. | |
element in the films that we made. And to preserve that, we have to | :09:38. | :09:43. | |
make sure that you didn't do more than a single take, or the very best | :09:44. | :09:49. | |
two, that kind of made you apprehensive about wanting to | :09:50. | :09:53. | |
improve or get another chance to do another take. Let's show you the | :09:54. | :09:58. | |
markets before we go because today is the first day of the last quarter | :09:59. | :10:03. | |
of 2016 and Asian shares started cautiously firm with the Japanese | :10:04. | :10:07. | |
Nikkei up 1%. And China is closed for a public holiday. As we were | :10:08. | :10:14. | |
talking about earlier, which is likely to continue dominating market | :10:15. | :10:18. | |
sentiment on Friday and the US market rallied with a positive | :10:19. | :10:26. | |
settlement with US authorities. That is it for Asia Business Report. | :10:27. | :10:36. | |
Thank you for watching. You are watching BBC News. Theresa May says | :10:37. | :10:42. | |
she will trigger Article 50, the process of leaving the EU, before | :10:43. | :10:47. | |
the end of March next year, and it will untangles | :10:48. | :10:50. |