20/11/2017 Business Briefing


20/11/2017

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Transcript


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This is Business Briefing.

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I'm Sally Bundock.

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Finding a new home.

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Two important EU agencies

will decide where to move today,

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as they leave London after Brexit.

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And imagine sending your child off

for an education in gaming.

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In Singapore, the idea is gaining

respect and even support

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from the government.

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And on the markets the euro sinks

in response to the collapse

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of coalition talks in Germany.

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This as share markets in Asia also

starting the week on the slide -

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we'll fill you in on

all you need to know.

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It's a critical day for Brexit

negotiations with Theresa May's

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cabinet meeting to discuss

an improved divorce bill -

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but no doubt they will discuss

at length the developments

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in Germany overnight and what this

means for the Brexit timetable

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and its impact on negotiations.

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In a moment we'll be live

in Brussels for analysis on this.

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But also we must mention the fate

of two major European agencies

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will be decided on today.

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The European Medicines Agency

and European Banking Authority

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currently reside in London -

which will no longer be part

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of the EU from the end

of March 2019.

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The 27 member states will vote

later on which cities

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will become their new homes.

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Joe Lynam has more.

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I am hoping to be able to speak to

him in just a moment. He is joining

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us from Brussels. Here he is. Peter,

good to see you. Let's start with

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the situation in the Brexit

negotiations in Germany. Your

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thoughts on the outcome of the

coalition talks? They are collapsing

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and as we have been hearing earlier,

there is a real concern about what

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the outlook is for Germany.

Indeed,

it looks like Germany isn't as solid

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as what it looks like in terms of

politics and of course the key

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reason for that is Angela Merkel's

decision in 2015 which has unleashed

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a lot of criticism and really

destabilised German politics with

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the immersion of right-wing populist

into the Bundestag. What we

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basically see if the centre-right

Liberal SDP is not willing to form a

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coalition with the Greens the coast

they have hardened their stance on

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Asylum and refugees and Angela

Merkel is basically not willing to

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do that. She wants to include the

Greens so for now, it is very early

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days, we have to see if it will

return to the negotiating table. I

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won't be surprised if that somehow

happens. But one option could be a

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minority government between Angela

Merkel and the Greens but then

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again, that the problem that

Merkel's Bavarian allies who also

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want a more right-wing refugee

policy, might not be willing to do

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that so there is even the

possibility that we will see Merkel

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basically leaving German politics

because her person makes it

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impossible to include a coalition.

Well, Mexit is not something I have

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heard before. Talk through what that

would mean for the eurozone, going

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forward. Without the strength and

leadership of Angela Merkel. And

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also, the Brexit negotiations.

I

don't think we should dramatise it.

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All in all, there is a consensus.

Even in Germany, how these

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negotiations need to be conducted is

important. I think even a --I think

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even a caretaker German government

needs to make some pretty obvious

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decisions. It is not clear how any

other German government would have

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materially different stance on

Brexit. With regards to the

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eurozone, indeed a German caretaker

government cannot decide what the

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French President Emmanuel Macron has

decided which is to concentrate more

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money and power at the Central level

in the eurozone. You know what? Even

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if there is a coalition German

government, even from the

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centre-left, I don't think they

would be happy if it was just

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decided like that but there will be

more transfers in the eurozone, it

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will most likely be because of the

fact that they are back at the edge

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of a cliff again. That's only when

these decisions are being made and I

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don't think these decisions are very

sustainable because they always

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provoke anger. The countries that

are obliged to accent the conditions

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to the payment are not happy either.

This is why politicians only

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grudgingly decide them. Don't expect

these big eurozone reforms to come

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any time soon.

For now, thank you

the from the think tank in Brussels.

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Of course, this is a story we will

discuss in the news briefing. It is

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all over the media today. Some other

stories today in business.

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Japan's exports rose for the 11th

consecutive month in October

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on robust shipments of automobile

and electronic parts.

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Let's go to our Asia business hub

where Sharanjit Leyl

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is following the story.

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Nice to see you, Sharanjit Leyl full

is not it would seem that this is

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the backbone of Japan's export

market. Electronics and cars.

That's

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right, Sally. It is also the risk

global demand that is leading to

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that growth. It is the cars, the

electronics, that has led to the

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uptick in exports for Japan. Also

imports grew with oil. We saw

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exports rise in 14% in October from

the previous year and imports were

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up nearly 19% from last year. It was

really things like, looking at the

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breakdown of shipments of cars to

Australia, liquid crystal device

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production equipment and plastics to

China, that led to the gain in

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exports and crucially, shipments to

China, in fact, the largest trading

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partner, rose 26% in October from

last year to well over Y1 trillion

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which was the highest value on

record. Really, all of this robust

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growth has led to gains for other

regions in the economy because

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Thailand's data came out today and

it was also growing faster in the

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July- September quarter which was

its highest rate it has grown in 4.5

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years and that is due to more

exports and tourism arrivals.

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Generally, this pickup in global

growth is benefiting economies in

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this region.

To see you. -- good to

see you.

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Now let's brief you some

other business stories.

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Japanese automaker Honda

is recalling 900,000 units

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of this model - the Odyssey minivan,

due to reports of injuries

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blamed on faulty seats.

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It is just the latest Japanese

manufacturer to find itself facing

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quality-control issues.

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Toshiba board members have approved

a plan to raise more than $5 billion

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from a sale of new shares.

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It's a key step that would allow

the troubled conglomerate to remain

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a publicly traded company

even if the sale of its chip

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unit is delayed.

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Toshiba needs to raise almost $7

billion by the end of March to plug

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a balance sheet hole left

by its bankrupt U.S.

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Nuclear power business.

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If they don't, the multinational

conglomerate will be delisted

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from the Tokyo Stock Exchange.

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A career in gaming would once have

been unthinkable in Asia.

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But e-sports is slowly gaining

recognition and will even be

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included as a medal sport

at the Asian Games in 2022.

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And with the global e-sports market

forecast to hit $1.5 billion

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within three years, Singapore wants

to help train new gamers

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to go professional.

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If they make it, champions can win

huge prizes worth millions

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of dollars.

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I see a lot of

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I see a lot of traditional gamers

and how they work as a team and stay

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together, lived together and train

together. They get to fly around

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show cast their skills and talents.

-- showcase.

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I was a competitive game and then I

realised that actually stronger in

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the strategy and my reflexes aren't

as fast as other players so I

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thought, why not use what I have two

educate more gamers? -- what I have,

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to educate more gamers.

The oral lot

more oximetry rolls out there. --

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auxiliaries. If you make the match

exciting, the event producers,

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coaches, trainers, all of these

essential roles.

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That's it for Business

Briefing this hour -

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But before we go -

here are the markets.

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Asia is under way down. -- on the

way down. The main market in Japan

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was also down around about 0.5%.

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Up next - Newsbriefing -

we'll take you through the stories

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making headlines in the global

media today including

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-- making headlines

in the global media today.

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