Browse content similar to 11/08/2016. Check below for episodes and series from the same categories and more!
This is Business Live from BBC News with Ben Thompson and Sally Bundock.
The Chinese e-commerce site Alibaba dominates the mainland, but it is
expected to announce a rise in revenues today.
Live from London, that's our top story on Thursday 11th August.
Storing your data in the cloud - it's key area of growth
for the Chinese internet giant Alibaba.
The firm is also hoping to expand its retail presence
with Australia at the top of the list.
We'll be looking at its plans for global expansion.
Are the curtains falling on China's cinema boom?
July ticket sales tumbled - adding to the ongoing
We will explain. European markets have looked like this in the first
45 minutes of trade, we will have the details.
And from being an executive at one of the world's biggest advertising
agencies to setting up a youth summit dubbed the Davos
We'll find out why founder Kate Robertson moved
And, apparently we are not going to the movies as much as we were. Have
you moved online? Let us know - just use the hashtag
#BBCBizLive. Working the hours that we do, I can
never stay awake for any film at the cinema!
We start with the tech giant Alibaba.
In a few hours, the world's biggest e-commerce firm is expected
to post strong revenues in its latest results.
It's based in China but can it fulfil its ambitions of becoming
Analysts say the online marketplace - a cross between Ebay,
Amazon and PayPal - will see its revenue for the first
It's cloud computing business - AliCloud - is expected to be
Earlier this year it announced it had reached half-a-million
It now hopes to challenge industry giants like Microsoft
But its global ambitions go beyond the cloud.
Alibaba says Australia is also a big part of its expansion plans -
and it hopes to open an office in Melbourne by the end
Ben Preston, e-commerce analyst at the consultants
Then outlining that Alibaba is growing, getting bigger, but what
about its international plans? You are right, first of all what an
extraordinary success story it has been. Alibaba is only 17 years old
and in that relatively short period of time it has grown to become not
only the largest e-commerce retailer in China but the entire world. As
they move on, as you rightly say, towards international markets, the
challenge for them is to replicate challenge for them is to replicate
the success they have had in China and do that
in new markets all over again. How will they pull that off? Many of us
have heard of Alibaba, that is one hurdle, but the other is the fact
that those of us outside of China are used to Amazon, eBay and others,
we have got our details with them, we rely on them, trust them. How
will they move into our world? It is one thing to grow as the market
leader, quite a different matter to gain customers away from an existing
market leader. An example, Alibaba tried to enter the US a couple of
years ago but had no success after a year. Likewise, Amazon try to go
into China and saw no success. As a customer, once you have got your
delivery details, credit card details entered, you trust the
retailer to deliver on time, you need something special to persuade
you to change your mind. Just because you have success in one
market, it does not guarantee you can replicated elsewhere. How will
Alibaba you are as? They will make acquisitions of existing market
players so they can get existing users. There will also send us
marketing offers and so forth to try and encourage us. Will it just be
about price? It cannot just be about price, date have to offer something
special. Amazon is not just about price, we trust them as retailers.
As long-term investors we have to identify the retailers that will win
because they offer price and trust and service and quality all in one
place. OK, thank you so much for coming in and giving us your views
on Alibaba, result out later, we will update you when we get them.
Some of the shine has come off the silver screen in China
after a 15% fall in cinema attendance in July,
on top of an ongoing downturn box office takings.
The slowdown comes in the wake of more than 50% growth last year.
Ticket sales in the three months to June fell by 10%,
marking the first drop in as many as five years.
The UK housing market has weakened following the referendum vote
to leave the European Union, according to the Royal Institution
Its July survey points to the biggest drop in transactions
since the global financial crisis in 2008.
Prices continued to rise nationally, but at the slowest
pace in three years - and actually fell in London.
South Korea's Samsung has denied withholding crucial information
from workers about chemicals they may have been exposed
The families of workers say there are about 200 cases
of employees contracting serious diseases.
Samsung said the safety of its workers was its
It says the allegations are not true.
As always, there are many stories and we cannot cover them all, but if
you want to get across just about everything in business you can go to
the Business Live page. This is the company that organises the bottling
of Coca-Cola soft drinks. It is a FTSE 100 company and has done
extremely well in the sense that it bottled more than 1 billion cases in
the last six months in 28 countries. That gave it a sales of 3 billion
euros, first half profits were roughly flat, though, for the
Coca-Cola bottling Company. Full details on the website and
worth looking at this story here, TUI, the biggest travel operator in
Europe, worries about the failed coup in Turkey there, it worries
that sales growth this year will be between two and 3% rather than the
5% previously expected. That is all on our website.
Singapore has some lacklustre numbers out this morning-its shaved
off a full 1% from its growth forecast for 2016 -
and it's now estimated at between 1% to 2%.
The economy grew by 2.1% in the second quarter
compared to a year ago, which is also lower than forecast.
The interesting thing about Singapore, as you can see behind me,
it is seen as a bellwether for the region, how Singapore is doing.
Indeed, you are right, it is often among the first to signal a slowdown
as it is such a financial and trading centre, as you can see from
all of these buildings behind big, it reflects what is going on
elsewhere far quicker. The government has cut its economic
growth forecast to 1%, 2%, it was previously stated as closer to 3%,
and economists are projecting Singapore could see its slowest pace
of growth since the financial crisis of 2009, in line with what the
government has projected as well. Trade and industry blaming concerns
of a Brexit weakening global growth, also said they are worried about the
rise in debt default in China, the economy expanded 2.1% in the second
quarter, slower than initial estimate as well.
As always, thank you. You saw it on the screen there, but
confirmation of what the Asian markets did overnight. New
indications of oversupply in the oil market remaining problem. All of
that on top of lower global outlook is for growth.
The dollar also fell against other major currencies overnight
as expectations of a US rate interest rate hike in the near
European markets look like this in the first 35 minutes.
Yesterday was a real mixed session, with the FTSE 100 managing to finish
the day higher, largely as a result of a weak pound.
It's a pretty light day for economic data - so make the most of it
But the latest weekly jobs data is due in the US.
Samira has the details about what's ahead on Wall Street today.
The Republican presidential candidate did it on Monday.
It's time now for the Democratic presidential candidate
Hillary Clinton will outline her plans for America's economy
at a manufacturing plant in the state of Michigan.
The Clinton campaign said the speech will offer a stark contrast
to Donald Trump's economic policies, which he laid out in a speech before
Also happening on Thursday, three of the biggest US
department store operators will be reporting earnings.
The better weather in June and July is expected to have helped
the bottom lines of Macy's, Coles and Nordstrom.
Investors are hoping it will make up for the last quarter,
where retailers really took a big hit.
And finally import prices for the month of July.
Economists are expecting that the strong US dollar
and weak oil prices put pressure on inflation.
Touching on a theme for the markets this week, oil prices falling.
Joining us is Alpesh Patel, chief executive at Praefinium Partners.
There is a mixture of issues grabbing headlines, we have got the
effect of quantitative easing in the UK and the effect that is having on
pension funds here, or your inflation as Samir mentioned. It is
supposed to be good news, the Bank of England pumping more money into
the economy, the way it does this, it buys bonds and hopefully the
people who sold those bonds will put the money into small businesses or
lend it to consumers. But it is not turning out to be a good news story
at all because it has driven down bond yields, so if you are a pension
fund, if you are a pensioner, the return you are getting, there is a
pension deficit for the big corporate, so that is a negative. We
thought lower oil prices would be a positive, less cost at the petrol
pump, but the oil companies are complaining, said that is not a good
story. Who will invest in alternative energy? These supposedly
positive stories are telling negative. Do we need to be
concerned, especially with the negative interest rate story? For
those people thinking, what does this mean for my pension, if it's
bad news, is it a short-term thing? I don't think it is short-term. You
have got two types of companies to get your pension from, those who are
managing the problem and will say, look, we might end the final salary
pension scheme in years to come, so it does not affect you directly, it
affects future generations. Then other companies, you have seen
it with people like, I will not name corporate names because it can lead
to worry, but you have seen other companies not managing it so well,
those with big pension deficits, their employees, their pensioners
should be worried, I'm afraid. Thank you, more from you a little bit
later when we look at the papers. Could children succeed
where their parents have failed? We meet the woman behind Junior
Davos. With 1300 young leaders from nearly
200 countries, can they solve some Founder Kate Robertson
will be here. This is Business Live from BBC News.
You may have heard of smart cities, but what are they?
They could be on their way sooner than we think.
The national mapping agency Ordnance Survey has begun two-year
trial to try and turn Manchester into the UK's first Smart City.
But what does this mean exactly and how does a city become smart?
Simon Navin is leading the Project on Smart Cities
What is a smart city? They are really in response to global trends
like population increase, where we are likely to see over 50% of
citizens living in cities in the near future, increasing pressure on
public services. In the UK we have seen great work in cities like
Glasgow, Milton Keynes, Bristol, Greenwich, to work with an internet
of things technology to deliver public services in response to those
trends. There is a project in Manchester which is about to
commence with Ordnance Survey are proud to be part of which will
deliver the UK's first demonstrator site for internet of things
technology and Smart City technology. Why Manchester? It was
part of the bid process, a consortium of public and private
companies that came together, it is focused on a digital environment, it
will involve the citizens of Manchester to help devise solutions
that are needed, and it is very vibrant, it will be interesting for
the people of Manchester to become involved. How long will it take and
when will it be really smart as opposed to a city in transition and
therefore perhaps a bit frustrating? Cities are living and breathing so
these things take time, this is a two-year project which started in
July and lots of solutions will be tried and tested, researched and
developed, and some of those will go live, some of
them will take longer to mature. At the end of the project the idea is
the solutions can be used elsewhere in the UK and showcase our talent
around the world as well. I bet that wasn't helping your anger
management. It was frustrating. We are looking at housing data on the
website. If you want to know more, dig deep.
You're watching Business Live - our top story...
The Chinese e-commerce giant Alibaba is dominating on the mainland in
China but what about the rest of the world? It is expected to report a
massive rise in revenue. A quick look at how
markets are faring.... Today in Europe it's a mixed
picture, they started a little higher and now they have dipped
slightly. The FTSE is leading the losers. Japan is closed today for a
public holiday. It's the annual meeting of global
business leaders and politicians - and a few celebs, who get together
to thrash out answers to some of the People like us have been seen there
as well! But it's often criticised
for failing to agree any real, So could it be the turn
of the younger generation to solve was the Global President and UK
Chairman of international marketing and advertising group Havas
Worldwide. And went on to create a youth summit
that has been called leaders the opportunity to meet
with counterparts from every country It's attended by 1300 young people
from 196 countries who discuss And this year's gathering
is just around the corner, in September,and takes place
in Ottawa in Canada. Kate is here. Welcome to business
live. Why did you come up with the idea? I was frustrated by a lack of
leadership in the world, since we started five or six years ago it was
quite obvious in the world that there is not a lot of leadership and
being originally South African myself and seeing that people like
Mandela and Tutu can genuinely lead as opposed to just occupying a post
at the head of government, it is there. This age group is the most
educated and connected in history and among them are leaders already
anyway with immense power to affect change. If you look at global
business, it's been coming out of that age group for the Las Vegas
years. They are not there to be ignored and treated as office
juniors the way I was, it's a different time, and this age group
is a different animal. What do you hope to achieve? What would be a
tangible result? When I have been at Davos in the past... You have been!
I have, but there is not much achieved. A lot of talking but not
much action. The networking is the highest quality in the world and the
average global CEO goes there over two days to see every government
leader that he needs to see. It's a different thing. The problem with my
age group and that age group at Davos is that it is done already.
The age group that we deal with, under 13, are effecting change
themselves, they are frustrated with a lack of change and they are able
to affect change on a great scale. What we are looking for is that this
is not a youth summit, this is young leaders and many of them are already
leading and if we can help them to scale back in any way, and also
inspire that, then a lot will happen. -- scale that. When we were
talking earlier you were explaining the issues that they are discussing
this year and it was not what I was expecting. Explain what they will be
grappling with in September. They have focused on LGBT which is only
the second time it has come up and it has never been the headline
article for human rights. In education, the second time they have
come up, they wanted to discuss education as we know today which is
not preparing them for the modern workplace, you know about the coding
story. There is a strong view on that. Those are global values. We
have delegates from Tuvalu, Kiribati, this is the only place in
the world you will see those countries. They deeply care about
the migration crisis and Syria and the fact that global leaders are not
resolving the problems. All of them are very aware that something ought
to have been done and could have been done to prevent the cataclysm
in Syria and it was a lack of leadership on the global stage.
Let's point the finger at Russia and the USA at the moment, just to
shorthand it. There was a lack of leadership and look at what
happened. If people want to get involved, I believe I am too old
because it is 18-30... It's OK. It's around ?3000 for people to go, who
are people who can afford to take part? We sponsor almost 200
scholarships to attend out of our own pocket, so we fund all of that.
That enables us to get the small countries and also people from, I
hate disadvantaged backgrounds, because when you see these young
leaders, you think that they may be disadvantaged by background but you
are sure a different thing now. This is taking place next month in
Canada. It is nice to see you. I am definitely over the hill as far as
that's concerned! Let's move on. Hillary Clinton, unveils her plans
for the US economy. Mrs Clinton will be
speaking in Detroit. This is just days after her rival
Donald Trump went to the same to city to lay
out HIS economic proposals. So how do the two candidates plans
for the US economy compare? These reforms will offer
the biggest tax revolution Which unleashed years of continued
economic growth and job creation. They tried to make his old,
tired ideas sound new, but here's what we all know
because we heard it again, his tax plans will give superb big
tax breaks to large corporations There has been a 15% fall in ticket
sales at the cinema in China. I went three times last week. In one week!
What did you see? I went to see an Indian film, Suicide Squad, and I
can't even Lambert the third one. They were mind numbingly, you can
switch your brain off, they are not arty farty like the ones you would
like! Going to the cinema three times in a week! He is managing my
fund. It is normally at midnight, you talk about declining numbers but
there are late showings at cinemas now and you have got insurance
companies giving you free tickets, I have two sets of companies giving me
free tickets. It is about switching off and forgetting about everything.
Justine says, eating stale popcorn and flat soda and listening to other
people's phone, why pay for that privilege? That sounds like home not
a cinema! A bill to clean up nuclear reactors, this is a story in the
Times will stop it has gone up by ?1.6 billion. What is the story? --
in the Times. This is about decommissioning power plans, talking
about Hinckley in the UK, and the Chinese and French relationship,
this is about getting rid of the old ones. Decommissioning sounds very
important, but we are talking about getting rid of things like asbestos
and the cost has gone up and up as is often the case with big
contracts. It is easy to blame the government but I blame the private
sector, how can they get away with saying it will cost X but then they
find that it costs more money? A private contract tells you they
deliver a cost and they had better do that. I think it has decreased in
recent years because what the government has done is got in
professional negotiators, the nuclear decommissioning unit in the
government, this is a problem, but I blame the private sector and not
government officials who have been blindsided. Never one to mince his
words. We will be in the same place at the same time tomorrow. Goodbye.