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The funeral of his de Keith Palmer has been held in London. Stay with | :00:00. | :00:00. | |
us. We will be back with the rest of the News of the date the first year | :00:00. | :00:10. | |
is the business news. -- news of the day but first year is the business | :00:11. | :00:12. | |
news. As Toshiba prepared to give its | :00:13. | :00:27. | |
earnings a day, weaves find out why Japan getting crushed. And we've | :00:28. | :00:33. | |
zoom in on the online market in India. Hello and welcome to Asia | :00:34. | :00:48. | |
Business Report. Fox climb has reportedly signalled it could launch | :00:49. | :00:52. | |
a $27 billion bid for Toshiba chip business. They are due to report | :00:53. | :00:59. | |
their own inflated today after two previous delays. Toshiba is | :01:00. | :01:04. | |
currently trying to sell off its prized chip business to cover losses | :01:05. | :01:09. | |
from its troubled US nuclear unit, Westinghouse. It is not the only | :01:10. | :01:11. | |
Japanese firm to struggle recently. These were the greatest brands in | :01:12. | :01:29. | |
consumer goods for decades. Toshiba, Panasonic, Sony, he Tai Chi. So how | :01:30. | :01:34. | |
did we end up here? First of all, the Chinese and Koreans came along | :01:35. | :01:38. | |
and they can make these things just as all but much cheaper. Secondly | :01:39. | :01:42. | |
and perhaps more importantly, these companies lost their Mojo. I forgot | :01:43. | :01:46. | |
how to innovate. The country that invented a Walkman did not go on to | :01:47. | :01:56. | |
invent the smart phone. Inside a vast exhibition hall, over 3000 new | :01:57. | :02:01. | |
route crudes are being inducted into one of Japan's big corporations. -- | :02:02. | :02:09. | |
new recruits. These people can expect to see it banned their whole | :02:10. | :02:13. | |
career in this one company. It will become their second home. They | :02:14. | :02:17. | |
expect to work hard and with long hours and wait their turn for | :02:18. | :02:24. | |
promotion. It is a model that has worked well for Japan in the past | :02:25. | :02:30. | |
but it has problems. In this rigid corporate hierarchy, promotion is | :02:31. | :02:34. | |
based on age not on talent. It is a culture that is resistant to change | :02:35. | :02:42. | |
and bad at producing new ideas. Japan's big corporations realise | :02:43. | :02:46. | |
they had to change to survive. Toshiba decided to bet on nuclear. | :02:47. | :02:53. | |
In 2006 it went out and purchased a Westinghouse. Five years later, this | :02:54. | :02:54. | |
happened. This is me inside the planned four | :02:55. | :03:11. | |
years ago. This changed everything. Many countries decided they did not | :03:12. | :03:15. | |
want anything to do with nuclear power. Those who did insisted any | :03:16. | :03:20. | |
new plants must be much safer and because of that they would be much | :03:21. | :03:25. | |
more expensive. That is the root of Toshiba's current financial | :03:26. | :03:33. | |
disaster. Toshiba is not alone. Other famous Japanese names have | :03:34. | :03:38. | |
been through deep crises. Last year Sharp was sold to a Taiwanese | :03:39. | :03:45. | |
company. And now Toshiba will be broken up and its best plants sold | :03:46. | :03:52. | |
off to the highest bill. The top e-commerce firm in India has raised | :03:53. | :03:59. | |
1.4 billion dollars in its biggest ever funding round. The news comes | :04:00. | :04:02. | |
amid speculation that they are looking at a potential takeover of a | :04:03. | :04:09. | |
smaller rival, snap deal. What does this tell us about e-commerce in | :04:10. | :04:15. | |
India? India's flip cards is getting bigger and bigger. Less than three | :04:16. | :04:21. | |
years ago it purchased an online fashion retailer and last year it | :04:22. | :04:25. | |
took over another company. Now it will own the eBay operations in | :04:26. | :04:33. | |
India with as 's it is an talks to buy at another one. Small players | :04:34. | :04:39. | |
are selling out to bigger ones is getting bigger in the e-commerce | :04:40. | :04:43. | |
space. As far as this deal is concerned, eBay will continue to | :04:44. | :04:47. | |
operate as an individual entity here in India although it will be owned | :04:48. | :04:53. | |
by FlipCart. EBay will invest $500 million in exchange for a stake in | :04:54. | :04:57. | |
the company. The two firms have signed a cross-border trade | :04:58. | :05:01. | |
agreement which means that users of FlipCart here in India will have to | :05:02. | :05:05. | |
the global infantry of eBay and customers on eBay will be able to | :05:06. | :05:12. | |
purchase goods from FlipCart. This was part of a fundraising | :05:13. | :05:15. | |
announcement from FlipCart where the company said it had raised $1.4 | :05:16. | :05:19. | |
billion from three global giants, apart from eBay they include 10 | :05:20. | :05:25. | |
cents and Microsoft. The money is hugely important for FlipCart | :05:26. | :05:28. | |
because it is engaged in a fierce battle with Amazon for market share | :05:29. | :05:33. | |
here in India. It is also an important development for the sector | :05:34. | :05:36. | |
because we have recently seen many e-commerce companies in India | :05:37. | :05:43. | |
struggle to raise cash. In other news:, a Japanese car maker, Toyota, | :05:44. | :05:47. | |
has announced it is spending $1.3 billion on its planned in the US | :05:48. | :05:51. | |
state of Kentucky, parts are plans to invest $10 billion in the | :05:52. | :05:57. | |
country. It months after our president can't threatened a border | :05:58. | :06:00. | |
tax if Toyota did not make its cars in the United States. And staying | :06:01. | :06:05. | |
with the auto sector, Ford has partnered with Amazon to integrate | :06:06. | :06:12. | |
the voice assistance into the latest line of cars. It includes the | :06:13. | :06:16. | |
ability to remotely start your car by voice command. Our correspondent | :06:17. | :06:19. | |
went to check it out. Alexa, asked my car for its tyre | :06:20. | :06:43. | |
pressure. The tyre pressure is not currently showing any warnings. | :06:44. | :06:52. | |
Ask my car to start. OK. Say your PIN number. 5678. | :06:53. | :07:21. | |
So I tap here? Could you continue reading my audio book. So I can pick | :07:22. | :07:33. | |
up from where I was at home. Find the nearest coffee shop. Here are a | :07:34. | :07:38. | |
few nearby cafes. I wonder if people will wonder what | :07:39. | :07:56. | |
Alexa is thinking rather than what is ahead of them on the road. As a | :07:57. | :08:02. | |
driver we want to make driving safer so we can be in safe. For | :08:03. | :08:10. | |
information and entertainment on the road you can use the voice, the | :08:11. | :08:14. | |
safest way to interact with the car in general. A voice-activated car. | :08:15. | :08:27. | |
What will they think of next? The logistics industry could be set for | :08:28. | :08:30. | |
major changes due to a large number of deals that appeared to be moving | :08:31. | :08:35. | |
ahead. Just this week we saw a page and a made an offer to purchase CW | :08:36. | :08:44. | |
T. And late last year at a Singapore sovereign wealth fund offered to buy | :08:45. | :08:50. | |
out a European firm. The logistics in Amazon looks to expand further | :08:51. | :08:54. | |
into China. What drives all of these changes? I asked that question to an | :08:55. | :09:02. | |
industry analyst. Logistics is an ever consolidating industry but I | :09:03. | :09:06. | |
see these things as three different events. One is an aspiration of | :09:07. | :09:14. | |
China to manage everything within without China. So that leads to very | :09:15. | :09:26. | |
position. As the acquisition of the other company, a strategic | :09:27. | :09:32. | |
investment aimed at generating more returns. I would put these two | :09:33. | :09:35. | |
things into different categories. Logistics is definitely going to be | :09:36. | :09:42. | |
a very exciting industry and we will see more and more consolidation. It | :09:43. | :09:48. | |
is going to be. Will there be lots more consolidation? Are there still | :09:49. | :09:51. | |
deals for investors? Definitely. There are good deals in areas such | :09:52. | :10:03. | |
as dangerous goods and handling which are dominated by smaller | :10:04. | :10:08. | |
players. The bigger players do not have a big footprint in these areas | :10:09. | :10:16. | |
and so a good acquisition target. Both have a look at the markets | :10:17. | :10:19. | |
because some of the Asian markets have opened. The chip Japan market | :10:20. | :10:27. | |
opened down, due to concerns and nervousness about the tensions in | :10:28. | :10:32. | |
the region, particularly in North Korea and sentiment dampened by a | :10:33. | :10:33. | |
stronger | :10:34. | :10:35. |