:00:14. > :00:24.The health check on China - is it finally checking out by the slump?
:00:25. > :00:32.The chair of an influential conglomerate could face charges
:00:33. > :00:41.along with his father and brother. Good morning. All eyes will be on
:00:42. > :00:49.the latest economic figures from China for the first half of this
:00:50. > :00:57.year, growth remained at 6.7% stop it is in fact the slowest rate of
:00:58. > :01:02.growth since 2009, which is, of course, just after the global
:01:03. > :01:09.financial crisis. What can we expect with concerns to a potential
:01:10. > :01:19.property bubble? A senior economist gave us his view. We are expecting
:01:20. > :01:22.growth to hold steady. We are looking for a pickup in industrial
:01:23. > :01:27.activity that is going to offset slightly slower growth in the
:01:28. > :01:31.services and a lot of that is because they grew quite rapidly in
:01:32. > :01:37.the third quarter of last year. We talked a lot about China's
:01:38. > :01:43.ballooning debt and possible acid rubble, are you still concerned?
:01:44. > :01:47.Those long-term vulnerabilities are still there but the new term risks
:01:48. > :01:54.are the hard landing in China. Interest rates are low around the
:01:55. > :01:59.world, negative in the end in Japan, the draw reserve, is likely to hike
:02:00. > :02:06.rates by the end of this year. Interest rates hikes in the US will
:02:07. > :02:12.be gradual so we do not see much catalyst for other nation crisis in
:02:13. > :02:20.China stop Donald Trump has repeatedly accused China of
:02:21. > :02:26.manipulating the US. What is your outlook on the currency? China has
:02:27. > :02:31.been persistently spending to manage its currency and that is a sign
:02:32. > :02:36.that, under the free float, the currency would be weaker than it is
:02:37. > :02:41.today. We expected the current exchange rate stays in place and we
:02:42. > :02:49.are likely to get to around 6.9 per US dollar baby end of the year and
:02:50. > :02:55.7.1 by the end of next. Goldman Sachs has reported a sharp rise in
:02:56. > :02:59.revenues of nearly 20% of the third quarter of this year. Profits came
:03:00. > :03:03.in at over $2 billion. Largely thanks to better returns from its
:03:04. > :03:13.trading activity. It has access about 5% of its workforce including
:03:14. > :03:19.here in Asia, to cut costs. The big struggle for investment banks
:03:20. > :03:24.globally is a change in gameplan. They can no longer be involved in
:03:25. > :03:31.the whole spectrum of investment banking so an the latest results,
:03:32. > :03:36.equities has not shot up very much. In fact, it is a burden on the
:03:37. > :03:41.business so it has to focus on businesses that are more consistent
:03:42. > :03:46.and derive more consistent revenue over a period of time. Investment
:03:47. > :03:52.banking itself is involving the players who can only do the bigger
:03:53. > :03:58.deals while at the bottom end it has become very fragmented and it is no
:03:59. > :04:05.longer worth their time to build and to end investment banking interest.
:04:06. > :04:09.Shares in Yahoo! Have risen by more than 1% after the company posted
:04:10. > :04:16.better than expected quarterly results. Revenue from its Mobile,
:04:17. > :04:22.video and social advertising unit jumped 24% to $524 million was not
:04:23. > :04:28.in a positive sign it seems customers have left the company
:04:29. > :04:35.after huge private data breaches. It is continuing to prepare for
:04:36. > :04:50.acquisition by. Leonardo DiCaprio has commented after a civil suit
:04:51. > :04:54.against a real estate case. He says he is awaiting direction over any
:04:55. > :05:02.funds that may have supported his environmental foundation or his
:05:03. > :05:07.film, the walls of Wall Street. A self driving taxi company has had
:05:08. > :05:13.its first accident. This is one of the vehicles operated by the firm
:05:14. > :05:17.which has been given free rides to invited guests in a small part of
:05:18. > :05:25.Singapore since August. One of its taxes click a lorry but the company
:05:26. > :05:34.is playing incident -- playing down this incident. Corruption charges
:05:35. > :05:40.against the chairman of one of countries most influential
:05:41. > :05:43.conglomerate. He together with his father and brother committed
:05:44. > :05:52.offences worth hundreds of millions of dollars. This centres on the
:05:53. > :05:57.patriarchy, the guy who funded the company in Japan after the war and
:05:58. > :06:03.who then took it to Korea and his son who is the current chairman of
:06:04. > :06:06.the company. This huge vast conglomerate and the allegation is
:06:07. > :06:11.that many hundreds of millions of dollars has been switched between
:06:12. > :06:16.each of the company and sometimes secretly and bits of tax,
:06:17. > :06:24.substantial hits of tax, I have to say, are not being paid. So it is a
:06:25. > :06:31.very typical alleged scandal where the line between what the family on
:06:32. > :06:38.and what the company on seems to be very, very vague stop this is an
:06:39. > :06:42.absolutely vast company. Not an household name outside Japan and
:06:43. > :06:49.Korea but these people are some of the riches in the world. In Korea it
:06:50. > :06:53.is the fifth biggest chaebol, its construction, finance, department
:06:54. > :07:01.stores and it all started from the party who is now 93, selling chewing
:07:02. > :07:12.gum in Japan. -- partly up. Then expanding their business to Korea.
:07:13. > :07:16.In all centres on this group around the patriarch at the top. More
:07:17. > :07:24.people are travelling than ever before spurring growth of 40% in
:07:25. > :07:29.Asia-Pacific online travel sectors with a record $79 billion in sales.
:07:30. > :07:36.One of the company is hoping to capitalise on that growth is the
:07:37. > :07:40.travel site cardiac. I spoke to the co-founder and started by asking him
:07:41. > :07:45.why it took the firm in nearly a decade to expand into Asia? We now
:07:46. > :07:55.operate in 12 different countries here and the reason why it we took
:07:56. > :08:05.so long to get here is... When they see what they want to buy, we give
:08:06. > :08:12.choice as to where to book. It is just hard to do. It has taken us a
:08:13. > :08:18.while to get here. Popularity aside, monetising it is crucial. How are
:08:19. > :08:23.you doing financially? We are doing great. We have a team in Hong Kong
:08:24. > :08:27.of seven people, which sounds small but they are a very talented team.
:08:28. > :08:32.They secured commercial contracts with hotels, et cetera. We get a
:08:33. > :08:40.small percentage of the small transaction. What about your
:08:41. > :08:43.marketing strategy? How do you spread the word about your company
:08:44. > :08:50.when there are so many other players? It takes time. There is
:08:51. > :08:55.different ways of doing it. When you use Kayak, most consumers will use
:08:56. > :09:04.multiple websites we just want them to visit Kayak is one of those. You
:09:05. > :09:09.expect the travel industry to continue growing or are we seeing a
:09:10. > :09:14.slowdown because of the economic issues? It is absolutely great. It
:09:15. > :09:18.will be the largest travel market in the world next year 's top if they
:09:19. > :09:23.have more disposable income what people like to do with that is
:09:24. > :09:31.travel. The category is growing by four percentage points faster. You
:09:32. > :09:54.are as cereals entrepreneur and predict big changes? We have been
:09:55. > :10:03.making investment. There is in Kayak we have created, for example social
:10:04. > :10:11.services within the Internet. You can, for example ask questions and
:10:12. > :10:18.get an intelligent response back. A quick look at markets before we
:10:19. > :10:25.go... One share of what to mention... After the Nick Eade
:10:26. > :10:35.newspaper. -- Indonesia's President tells BBC
:10:36. > :10:41.World his country will go ahead with the use of chemical castration
:10:42. > :10:47.for some sex crimes. The US military says "Islamic State"
:10:48. > :10:51.militants fighting Iraqi troops