17/03/2016 BBC Business Live

Hello this is business live, they are calling it the perfect storm,

Lulu returns to government in Brazil.

that's our top story on Thursday 17th March

We'll be live in Sao Paolo to get the very latest on the developments

in South America's largest economy - as fresh anti-Lulu protests erupt

The Brazilian real plunged and share markets dived on the news.

Storm clouds are gathering again over the global economic horizon -

that's the warning coming from the US central Bank,

add that to worries over a potential Trump presidency and a lacklustre UK

economy - should we batten down the hatches!

And we are an hour into the European trading day -

the US dollar is weak - oil prices are on the rise

We'll make sense of the latest moves.

As we do more and more work on the move and online -

we meet the boss of tech security firm Druva that says it can keep

And as the cost of 3D printing falls to a new low -

it's got all sorts of practical uses.

We want to know - what would you 3d print?

We start in Brazil - where President Dilma Rousseff

is battling to save her government amid a deepening political

Late Wednesday she confirmed her predecessor - former president

Luiz Inacio Lula da Silva - will be returning to government.

Critics say it's a move to shield him from corruption charges.

Top of the list of problems -

a huge corruption scandal involving state-owned oil giant Petrobras,

President Rousseff is facing impeachment over the scandal.

The economy shrank 3 point 8 percent last year -

the biggest slump in a quarter of a century.

At the same time consumer prices are soaring -

And no surprise then that many Brazilian families are struggling

with high levels of household debt - and rising interest rates have piled

News of Lula's return caused sharp falls in Brazil's currency and stock

markets, as investors fear he could raise public spending

Daneil Gallas, our South America Business Correspondent joins us now

Tensions really high where you are, not least, just explain this for us,

a foam core that took place we think at some point between Lula and

Elmer, just explain this for us. The crucial question, one of the many

questions, the crucial question in this whole case, is whether Lula is

being brought in to help out the government, get out of this mess, or

is he just doing this to save himself in order to get some court

privileges. Last night, a foam core that was tapped by the police, and

it was revealed by a judge, it was saying, it was showing, that

President Dilma Rousseff was talking about President Lula about a

document, from before he became a minister. The president says that

the document does not reveal anything but it was very explosive

for everyone here, for the judge and for everyone that was some sort of

evidence that Lula was doing this to save himself. We saw some protests,

there was rioting Brazil and they were very spontaneous, people coming

out of the streets at around about seven o'clock at night and things

are very tense and today, Lula is going to be formalised as a

minister. All of this means more uncertainty and unpredictability and

it strikes me that it is the last thing that result need right now?

Brazil is going through its worst economic crisis in the last 25

years. It is one of the worst political crisis, the markets are

very volatile right now, up until yesterday there was a lot of talk

that was would take a sharp turn to the left, but yesterday, President

Dilma Rousseff came out and said that the central bank is not going

anywhere, the finance minister will stay where he is, and that the

economy is not doing any major shifts from now on. She will want to

approve a change in tax. First of all, you have to take care of the

impeachment process, in about 45 days from now, she could actually be

suspended from office if she's not sex full in -- if she's not

successful in that. We saw those protests in the street, it seems

that will not change? Yes they are very organised protests, of people

who say, now we are seeing protests that are quite spontaneous and

people coming out because they seem to be very angry especially with

Lula and Dilma Rousseff. That is the tension that they will have too

diffused right now and that is the popularity problem that they had to

struggle with right now. Australia's unemployment rate fell

unexpectedly last month according But - the numbers show a big

DECREASE in the pool of available workers rather than a significant

creation of new jobs. The Bank of England is expected

to leave interest rates unchanged at a record low of 0.5 per cent

when it meets later. Forecasts suggest there won't now be

a rate rise until early 2017, which would mean eight years

of record-low borrowing costs. Analysts will be watching to see

if anyone on the committee will actually vote

for a CUT in rates. Chinese telecoms giant ZTE

is postponing the release of its annual results to assess

the impact of new US export The US Commerce Department made

the move after ZTE and its units allegedly violated its sanctions

on Iran. Let us take you to the business live

page, a lot of budget reaction in the UK with some corporate news

around the world. You will know that the airline has been set by all

sorts of industrial relations problems that have hampered its

efforts for a turnaround plan, it has told us that strong annual

results for last year, thanks to what it says are lower fuel prices

and more customers. All of that as we said despite the big problems

related to industrial action. Also we have got some bosses on the move,

surround rue witty, who has been running GlaxoSmithKline, he will

leave in March 2000 17. That is a big story comedies quite a

significant player in the significant player in the

pharmaceuticals industry. And also the boss of Rio Tinto, he is

retiring this year. And this man is the new man who will take the top

job. He will become the boss of Rio Tinto, he is currently in charge of

their division for copper and coal. Glaxo looking for a new boss so

sending your CV 's. The US central bank concluded

its meeting on Wednesday and Janet Yellen had no

surprises for investors, But she did reflect concern

about the global economy and its impact on the US,

the dollar and inflation, so only two rate increases

are likely this year. How did markets react

to this in Asia? Sharanjit Leyl is in

our Asia Business Hub. Pretty much every Asian market is

higher with the exception of Japan, and then Nick K which has closed

lower. As investors took in the Federal reserve decision to keep

rates still, export rates were sold off on the stronger yen. The Federal

reserve staying back, the projection for interest rate hikes, has meant

that risk appetite has returned for many investors, most Asian markets

taking their cue from the Wall Street, S 500 closing at its

highest level following that fairly cautious message from the US central

bank. Of course we have got global growth concerns about China,

grappling through much of this year and one of the reasons why they may

have influenced the Fed decision. Commodity prices are up and the

reason why is that investors are not likely to be lured away by the

appeal of higher US interest rates. They still seem fairly good bets for

investors. STUDIO: Thank you very much indeed. For most of the session

in Tokyo, it was in positive territory, Hong Kong up strongly.

That is the night before, the main markets in the States, closing

really strongly. Let us look at Europe to see how it is going. We

have got many energy stocks doing well because of the price of oil,

Brent crude, across-the-board in Europe we are seeing strong gains,

after a mixed close in Europe on Wednesday. For a look ahead to what

we can expect on Wall Street here is Michelle flurry. US investors going

to Thursday enjoying some extra lift courtesy of the Fed, the Wednesday

monetary policy committee now says that they expect to make fewer hike

rates than they previously did. Stock investors like that news a

lot, driving the S 500 to its highest level since 2016, attention

now turns to economic data out on Thursday, the weekly estimate of how

many people make their first game for unemployment benefit is the

market 's best running tally of how the job market is faring. The

initial claims release as it is also known is expected to show a rise

from the past week but it is still around its lowest level for five

months. That plus the Philadelphia Fed's survey of business conditions

in one of the biggest industrial regions, the United States will give

investors plenty to think about. Jane Foley is with us, she is the

senior currency strategist, a quick word on the Fed, because not

changing rates, as always, it was what Janet Yellen said? She seemed

to be very cautious, partly because of the global economy, she mentioned

the global headwinds. The US economy has been closed to most other

economy so it is significant. Also, the more cautious members of the

committee, certainly seem to be dominating. One member abstained,

she wanted an immediate rate hike, she abstained, but generally it is

the doves that got to the board. It is all about caution, it is the tone

of the Federal reserve and it is definitely the tone of George

Osborne, his budget statement in the UK on Wednesday, and interestingly,

the economic intelligence unit is rating some of the top risks to the

global economy and it has got Donald Trump among the top ten? Economists

are quite concerned, because with respect to Trump, it is difficult to

see what his policies are, but he has come out with some comments

which suggest that he's very protectionist and that is something

that can slow world growth. Trump on protectionism is a big worry for

economists but also because he has come out and has said something that

could be deemed as a war crime, that you had to go to the families of

terrorists. On the back of that, you could see resignations from some

senior Army officials in the US had a lot of uncertainty about what a

Trump presidency could bring. You will be back with us in just a few

minutes but thank you. Talking of risks, staying safe

online, we will meet the boss of the tech security firm, it says it can

keep information safe from hackers. You are watching business News live,

stay with us. First more reaction to that budget speech yesterday from

the Chancellor George Osborne, the aid budget, some fairly downbeat

forecasts. Emma Jones is founder of small

business support group Enterprise Do you welcome what you've heard

from the Chancellor? Absolutely, this was a fantastic

strong business budget for small businesses, business rates being

abolished, corporate tax rates coming down. They are a joy seeing

this morning. Talk us through changes to taxes and rates because

it has been a big bugbear for small firms who are really struggling to

deal with competition from their larger rivals, this will help small

firms we believe that the cost of larger firms? I'm not quite sure it

is at the cost of larger firms but it is great cost to the high Street,

600,000 fans will no longer had to pay business rates which is

incredible, a lot of retailers happy. But this thing around big

corporate, big corporate and small businesses working together is ready

important, I think that big corporate is paying their tax, and

the Chancellor is making sure that the small ones are paying less. Give

us a sense of how big a part of the economy, it

Small businesses power the economy and they are entrepreneurial and

yesterday was a celebration of small business. The Chancellor was showing

he took small businesses seriously. One easy target we thought would be

motorists. Global oil prices are down, but the Chancellor chose to

keep fuel duty steady. That is good for business like transport and for

staff who need vehicles. Absolutely. Whether you are an eBay trader,

whether you are on the high Street, whether you rent out your house,

there were tax allowances for that. The economy is made up by small

businesses and the Chancellor made sure they got the breaks they need

to keep on growing. Emma Jones. The founder of the Moneysupermarket is

finally selling the rest of his shares. ?120 million.

You're watching Business Live, our top story: President Dilma Rousseff

is battling to save her government amid a deepening political

And news that her predecessor, former president Luiz Inacio Lula da

Silva, will be returning to government.

That's prompted protests, the Brazilian real plunging

Now, technology means we can do more and more on the move,

But how safe is the data and work we access via smartphones,

He makes software that helps companies protect their data,

especially for workers who aren't in the office.

The company's Chief Executive, is Jaspreet Singh,

He moved to Germany to study computer science as part

And it was a $1,000 loan from his father that helped him

start up his own firm selling Indian food to students.

But after a spell at tech firm Veritas, he founded Druva in 2008.

It has its HQ in California and has 3,500 customers around the world.

Jaspreet Singh, the CEO of Druva joins us in the studio now.

Nice to see you. Talk us through how this works. It is about protecting

people on the move and we know people are working elsewhere, not

just in the office, and security for all firms is a big issue.

Absolutely. For example, what happens if the customer has data

everywhere from tablets, cloud services. We help to understand data

on all these devices, collect it and preserve it for as long as you want.

For discovery and compliance and all those different reasons. The

businesses who are more concerned about learning more about their data

from a breach perspective, from a discovery perspective, to understand

and collect an aggregate data for security reasons going forward.

Explain where you saw the gap in the market in terms of provision of this

kind of security. You were working at Veritas and because you were an

entrepreneur you needed to move on and I heard you got bored. You talk

about managing data at the edge, what ever the edge is, and that is

where your business model started. Absolutely. When I left the job I

was trying to solve surge and understand what to do next and we

saw this big kind of mobility or cloud coming in and 40% data would

be an egg. The legacy approach of managing it and predicting it and

covering your risk around data would not go the way of the past, building

a data centre. You have to look at where the data is and protect it

there and then. So IBM, a big data centre, does not currently covered

that? Yes, they do, they cover in a legacy way. They manage the

information back in the data centre. You have to think about hybrid and

electric cars and mobility and risk. It is a completely different

process. Let's talk about India. Up until now we have known it for

outsourcing technology and services. You are suggesting now there is a

home-grown industry in IT and technology and new innovation coming

from India. How has that changed? Quite a bit. Traditionally the whole

world would be a credit cost model. When I was in Veritas, the laptop I

worked on, the mobile phone I had, was very different from my US

counterpart. In time the bridge blended. We have cloud, the same

devices and the same servers. So the gap between what ever a person has

in the world is bridging. There is a global trend in entrepreneurship. In

India, something we cover a lot, there is a push to get business and

investment in India, and yet for your company you had to move to

California to progress. It was not happening from where you were near

Mumbai. It is about where the talent is. You have got to find the best

talent. For a large enterprise buying from a start-up is not just

about technology, it is about the whole business model, selling it and

building it. The talent pool was all in the Bay area and we moved there

to build a large company. It has been great to have you on the

programme. and jewellery industry -

Baselworld - gets under way It's a good barometer

of the global economy. So how is the luxury watch trade

coping with these uncertain times? A few things say new wealth as

effectively as a luxury watch. Switzerland exports $22 billion a

year. But sales are on the slide. Over the past year they fell 3%

worldwide. In China, a key market for the new rich, they fell by 23%.

The economic slowdown and stock market crashes are partly to blame,

so too is the government's crackdown on luxury gift giving. Smart watches

have come through as a serious competitor. Last year 8.1 million of

them were sold, compared to 7.9 million Swiss watches. Nowadays

there is a glut of luxury watches on the market. Independent dealers on

the Internet are selling them to clear at discounts of up to 75%.

Some watchmakers are trying to drive up sales by bringing out a cheaper

lines. Others are having to cut costs. Cartier is cutting 350 jobs

at its headquarters. We are looking at various stories

and this one is interesting. 3-D printers are cheaper and they are

taking on toys. $400 for a printer. The reviewers said the first time he

reviewed it they cost about $1400. He has been spending the last few

weeks reviewing them and he says they are not perfect. That is a hard

job. You cannot print something like a Lego brick, they are not that

precise, but $400 is cheap. But the big question is, how much is the

plastic that feeds them? He says it is $24 a kilogram. That is expensive

if you are on our pocket money budget. But it means a 3-D printer

can be in the range of many families. Pocket money budget is the

key because the toy makers are thinking this will be the next big

thing. Your kid could design a toy. In the

past you used a washing-up bottle liquid. Now you have this creativity

you could never have before. Yes, he said it is about having an app that

let's you design something and then let's you print it and have it. You

have sent as lots of suggestions including a mini then.

Lots of comments coming in. Some of you are very political, you want

things like new government, new leaders, new president. A few of you

are suggesting a radiator key because it is something you can

never find. Toys for your kids. You might want to create limbs for

people with disabilities. I think that has already been developed by

certain manufacturers. The Guardian looks at the budget

like all the UK press completely across-the-board and they are

talking about ?56 billion black hole. Growth has been revised down

by 0.3% over each of the five years. That is significant. The Federal

reserve also revised down growth and that means money coming in will not

be as much as the Chancellor had expected. Nice to see you as always.

Thank you for your contributions and your company. We will see you

tomorrow. Goodbye. It might have started a bit murky

and great, but increasing amount of sunshine are developing out there at

the moment and we will settle into a fine and sunny afternoon for the

majority. There will