Browse content similar to 09/05/2017. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
Labour says it stands for a fair and managed immigration system. | :00:00. | :00:00. | |
Now the latest business news from Singapore. | :00:07. | :00:15. | |
Voting is underway in South Korea. What will the new leadership mean? | :00:16. | :00:24. | |
Workers across America are asking why President Trump is not more | :00:25. | :00:33. | |
worried about businesses closing. Good morning, Asia. Hello, world. It | :00:34. | :00:42. | |
is a Tuesday and glad you could join us. I Rico Hizon. The economy is | :00:43. | :00:51. | |
weighing heavily on the mind of South Korean voters as they head to | :00:52. | :00:54. | |
the polls. Unemployment among young people and corrupt business | :00:55. | :01:01. | |
practices in "chaebols" our summer of the reasons that South Koreans | :01:02. | :01:06. | |
are frustrated. Our Asian business correspondent explains what she | :01:07. | :01:16. | |
feels that the concerns are. Top of the mind for young people it is | :01:17. | :01:21. | |
unemployment. The unemployment rate is close to 10% and many people are | :01:22. | :01:25. | |
feeling like the system is unfairly stacked against them. They blame | :01:26. | :01:31. | |
"chaebols", family run conglomerates they said dominate the economy and | :01:32. | :01:37. | |
did not create new jobs and effectively squeeze out small and | :01:38. | :01:43. | |
medium-sized enterprises. They say there is no innovation, opportunity | :01:44. | :01:47. | |
for people to find work and they want something to change. It has | :01:48. | :01:55. | |
really been a very competitive election. More than ten presidential | :01:56. | :01:59. | |
candidates and at the centre of their campaign our reforms for these | :02:00. | :02:05. | |
conglomerates but will they be able to fulfil these promises? It is not | :02:06. | :02:12. | |
the first time we have heard "chaebols" reforms. It comes up | :02:13. | :02:18. | |
every time and frankly you are right, how realistic is it? Many | :02:19. | :02:24. | |
conglomerates recognise there is a need for change. They see people | :02:25. | :02:28. | |
getting out on the street demanding for it. Management structure and | :02:29. | :02:35. | |
perhaps the complicated crush of the system may be able to change. But a | :02:36. | :02:40. | |
lot of the focus has been whether these big companies can actually | :02:41. | :02:45. | |
effect significant change. They are also so vital to the economy. | :02:46. | :02:52. | |
Example, the revenue from top five "chaebols" make up more than half of | :02:53. | :02:59. | |
the GDP, one fifth just by Samsung. How did you do reforms without | :03:00. | :03:07. | |
damaging economic prospects? It will be interesting to see what kinds of | :03:08. | :03:11. | |
campaign promises they are able to do. Jobs are also a big issue in the | :03:12. | :03:21. | |
US. Low sales have seen job loss in the retail sector than exist in the | :03:22. | :03:28. | |
entire coal sector. This is about why Donald Trump is focusing on that | :03:29. | :03:34. | |
and not retail. New York city, known for Broadway | :03:35. | :03:42. | |
shows, great restaurants and shopping. Oh, the shopping! But | :03:43. | :03:50. | |
there is a seismic ship happening in America in retail which is even | :03:51. | :03:55. | |
evidence right here in the big Apple. The red on this map shows the | :03:56. | :04:02. | |
vacant shopfront in New York City. When they close, they take jobs with | :04:03. | :04:07. | |
them. Clothing stores have been shedding jobs for the last three | :04:08. | :04:11. | |
years and over role, the US economy has lost more than 90,000 retail | :04:12. | :04:19. | |
jobs since October, 2016. It is a story repeating itself across the | :04:20. | :04:24. | |
US. This is what is left of the Hudson Valley Molk in our state New | :04:25. | :04:29. | |
York. The empty stores so the demise of the American shopping centre. It | :04:30. | :04:35. | |
is at lunchtime and I in the food court. Normally, it would be really | :04:36. | :04:40. | |
busy but as you can see it is rather quiet. This is what happens when the | :04:41. | :04:44. | |
big department stores lead, they take their customers with them. In | :04:45. | :04:50. | |
the last two years, JCPenney and Macy's are closed their doors. The | :04:51. | :04:57. | |
future of Sears is looking rocking. Independent kiosks become collateral | :04:58. | :05:03. | |
damage. The mole is getting a little bit slower. -- the shopping. We | :05:04. | :05:15. | |
still have hope. In the absence of customers, hope this may be all he | :05:16. | :05:19. | |
has. Although it is our hope shared by the new owners who believe they | :05:20. | :05:25. | |
can turn it around. Nationwide, though, the outlook for retail looks | :05:26. | :05:31. | |
bleak. We are already way ahead of the pace of closures that we | :05:32. | :05:38. | |
witnessed during the recession in 2007 - 2008. This is a new | :05:39. | :05:44. | |
phenomenon in an in my opinion it is going to continue expanding right | :05:45. | :05:53. | |
through this year into 2018. More closing? Yes. About one in every ten | :05:54. | :06:00. | |
Americans work in retail. This is an industry vital to the American | :06:01. | :06:04. | |
economy but with more store closures looming it means more job losses. | :06:05. | :06:12. | |
Sliding sales are part of the reason behind a merger of two | :06:13. | :06:18. | |
quintessential New York fashion brands Bash COACH is taking over | :06:19. | :06:28. | |
Kate spate in at 2.5 billion dollars deal. There are reports of a | :06:29. | :06:34. | |
potential big merger between ChemChina and cyber camp. It could | :06:35. | :06:42. | |
produced the world 's biggest revenue. Attractions after taking a | :06:43. | :06:51. | |
tumble. Investors are responding well to news that an extension for | :06:52. | :07:10. | |
oil prices for the rest of 2017. The question is, well this is busy as | :07:11. | :07:15. | |
continue? And why was the deadline extended? With the increase | :07:16. | :07:25. | |
production from the US and the excluded members such as Libya and | :07:26. | :07:31. | |
Nigeria, the production has risen over the last six arms, assumed all | :07:32. | :07:35. | |
the production cuts from OPEC which has lifted the oil market in a state | :07:36. | :07:43. | |
of flux. -- left. They do oil prices will continue probably to a low | :07:44. | :07:48. | |
level from here. Since the production cuts, have the OPEC | :07:49. | :07:54. | |
members been committed to complying? Yes, the original was one point | :07:55. | :08:00. | |
ebillion barrels per day and now it is running at about 100%. Whether | :08:01. | :08:05. | |
that can continue into the second half of the year as the cats get | :08:06. | :08:11. | |
extended will be a story for another day. To you think these consisted | :08:12. | :08:17. | |
cuts can continue? They think they can come the new but all it is going | :08:18. | :08:23. | |
to do is keep the lights on. It will not move oil up about $60 per | :08:24. | :08:31. | |
barrel. It will keep it at LeRibeus around $50. As a hope all | :08:32. | :08:37. | |
consumption will pick up which then it will start to run down the | :08:38. | :08:43. | |
stockpiles. Libya and Nigeria have been glued it for now but when do | :08:44. | :08:48. | |
you think they will start cutting production to comply with these | :08:49. | :08:54. | |
reductions? Think they would like to have the need for the second half of | :08:55. | :08:59. | |
the year but I do have some doubts as to whether they sign up for it. I | :09:00. | :09:05. | |
think it is unlikely that these two will come in. The problem is US | :09:06. | :09:13. | |
shale producing a lot per day and nothing OPEC can do. The first four | :09:14. | :09:27. | |
Warner music. I am in love with the shape of you got back Digital makes | :09:28. | :09:33. | |
up more than half saw venues. Boosted by success of Ed Sheeran's | :09:34. | :09:39. | |
latest album released in March. Jumping by more than one fifth in | :09:40. | :09:48. | |
the first quarter of 2017. Before we go, a quick look at the markets... | :09:49. | :09:55. | |
As you can see, in early trade Japan and Australia in negative territory | :09:56. | :09:59. | |
and this is because US equities saw little change. Australia's cashing | :10:00. | :10:06. | |
in on recent gains after the French election. Focus also on the South | :10:07. | :10:15. | |
Korean residential election. As for Wall Street, industries were flat. | :10:16. | :10:25. | |
Thank you so much for investing your time with us. Sport Today is coming | :10:26. | :10:29. | |
up next. Have a nice day. Voting is underway in south Korea's | :10:30. | :10:38. | |
presidential elections - | :10:39. | :10:42. |