Browse content similar to 31/07/2013. Check below for episodes and series from the same categories and more!
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neighbourhood. Time for the latest money news, he is the World Business | :00:06. | :00:16. | |
:00:16. | :00:22. | ||
Report. -- here is the World Business Report. Light, camera, | :00:22. | :00:28. | |
action. Official US growth figures are factoring in the television | :00:28. | :00:35. | |
industry for the first time. Can the new boss of drinks giant Diageo to | :00:35. | :00:45. | |
:00:45. | :00:50. | ||
continue the results we have become very used to. Also in the programme, | :00:50. | :00:54. | |
we continue our series that looks into how the housing market is doing | :00:54. | :00:57. | |
in various parts of the world. Today, we are looking at the market | :00:57. | :01:03. | |
in the US. We start with the US, the world 's biggest economy, where | :01:03. | :01:09. | |
historic changes are taking place to the way they measured growth. The | :01:09. | :01:13. | |
question of how do you capture in one number the health, or otherwise, | :01:13. | :01:18. | |
of an economy is a very tricky one to answer. Today the commerce | :01:18. | :01:22. | |
Department will release its first estimate of the three months from | :01:22. | :01:28. | |
April to June. Expectations are not high but as experts believe that | :01:28. | :01:32. | |
these calculations will give a better calculation of how the worlds | :01:32. | :01:38. | |
largest economy is progressing. What has the film industry got to do with | :01:38. | :01:44. | |
the size of the US economy? More than you suspect. A lot of wealth is | :01:44. | :01:48. | |
generated by film and TV production. The US government wants to capture | :01:48. | :01:53. | |
that in its measure of growth. To do so, it has invented a new way to | :01:53. | :02:01. | |
calculate gross domestic product. What is GDP? It is an attempt to | :02:01. | :02:05. | |
capture how an economy is going in one now that -- number. | :02:05. | :02:13. | |
Statisticians tend to do this by valuing the goods of products | :02:13. | :02:18. | |
purchased by consumers. GDP will now include spending on research and | :02:18. | :02:22. | |
development and some forms of entertainment. As well as changes to | :02:22. | :02:25. | |
pension accounting. These adjustments are expected to boost | :02:25. | :02:32. | |
America's output by up to $400 billion, roughly the same size as | :02:32. | :02:36. | |
Sweden's economy. Which brings us back to this onset. Right now | :02:36. | :02:42. | |
they're going to shoot a scene from the TV show girls which is wrought | :02:42. | :02:52. | |
:02:52. | :02:53. | ||
cast on HBO. The way it GDP used to be calculated, revenue from DVD | :02:53. | :02:56. | |
sales used to be counted but not the money that goes into making the | :02:56. | :03:03. | |
programme. But from today, budgets like this will be included. US | :03:03. | :03:05. | |
economist say these new additions are meant to reflect the change in | :03:05. | :03:09. | |
the economy. They have made similar changes before. For example with the | :03:09. | :03:14. | |
creation of sulphur. This is part of an ongoing programme to better | :03:14. | :03:18. | |
reflect the contribution of intellectual property to the overall | :03:18. | :03:23. | |
economic productivity. When it comes to the story of economic growth, the | :03:23. | :03:30. | |
US is the first to get his major rewrite. But it will not change the | :03:30. | :03:39. | |
economic reality for most Americans. When it comes to today's GDP number, | :03:39. | :03:45. | |
economist at predicting a growth of a meagre 1%. That is quite a drop on | :03:45. | :03:48. | |
the first quarter. Investors are also keeping an eye on this | :03:48. | :03:54. | |
building, the Federal reserve in Washington. It is ending its two-day | :03:54. | :03:58. | |
meeting today, as you can imagine the markets are fairly jittery about | :03:58. | :04:03. | |
that ahead of what they might say. You love story between Tinseltown | :04:03. | :04:08. | |
and China has just turned a bit sour. China has stopped paying | :04:08. | :04:13. | |
Hollywood studios for its films and a dispute over Chinese tax on movie | :04:13. | :04:19. | |
profits. We like to think of him as our own movie star, we cross the | :04:19. | :04:26. | |
Ricoh in Singapore. Tell us more about this story. You are talking | :04:26. | :04:31. | |
about this lovers quarrel, Sally, and it started over this 2% value | :04:31. | :04:39. | |
added tax that Beijing is charging on US films. The Hollywood studios | :04:39. | :04:43. | |
say this tax violates a World Trade Organisation film trade agreement | :04:43. | :04:50. | |
between the two countries. China has a state owned distributor that has | :04:50. | :04:55. | |
stopped payment since the start of the year. They have not given at | :04:55. | :05:02. | |
this point a reason why they did so. Tens of millions of dollars of box | :05:02. | :05:09. | |
office revenue are now owed to the like of Warner, Disney, Sony. China | :05:10. | :05:13. | |
owes more than $31 million to specifically for Warner Brothers, | :05:13. | :05:23. | |
:05:23. | :05:25. | ||
$20 million for sky fall, and $20 million for life of high -- to Fox | :05:25. | :05:32. | |
Studios. It is an increase in the revenue sharing scheme. Despite all | :05:32. | :05:34. | |
their differences, everyone is hoping for a Hollywood ending. They | :05:34. | :05:43. | |
are trying to resolve this lovers quarrel. Thank you very much. Five | :05:43. | :05:49. | |
years have passed since America's housing market collapsed, affecting | :05:49. | :05:54. | |
economies around the world. If you look at recent figures, the US | :05:54. | :05:58. | |
market seems to be recovering but for much of the younger generation, | :05:58. | :06:01. | |
achieving the American dream of owning their own home is still in | :06:01. | :06:06. | |
the impossible. As part of our home truths series, we visited one couple | :06:06. | :06:13. | |
in New Jersey. Friday afternoon in a suburb of New Jersey, the sun is out | :06:14. | :06:20. | |
and so are his family. It looks like a picture perfect American family | :06:20. | :06:28. | |
except for one issue, the house they live in isn't theirs. It is tough | :06:28. | :06:32. | |
because coming out of college, you both have student loan debts and it | :06:32. | :06:38. | |
is really difficult because when we go to apply to the debt we carry, | :06:38. | :06:45. | |
compared to what we make is a little lopsided. We do not really qualify. | :06:45. | :06:49. | |
They at least have family fans who come to the rescue. Mike has worked | :06:49. | :06:53. | |
at this store ever since he was a high school student. Its owner is | :06:53. | :07:03. | |
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their landlord. Her father and more -- her father-in-law owns the house. | :07:07. | :07:11. | |
I think that one for era that my father-in-law had that opportunity | :07:11. | :07:18. | |
to make as much money as he had, investing in stocks in real estate, | :07:18. | :07:21. | |
I am not so sure that the generations to come will be able to | :07:21. | :07:27. | |
do that. Their stories are not unique. Within a few generations, | :07:27. | :07:31. | |
achieving the American dream has become much tougher. Today, not just | :07:31. | :07:35. | |
here in New Jersey but across the country, young people are struggling | :07:35. | :07:40. | |
to afford their first home. Over the last few decades, first home buyers | :07:40. | :07:47. | |
in their late 20s and early 30s have on average a carrot -- accounted for | :07:47. | :07:52. | |
40% of home sales. That figure has now fallen to 30%. To make things | :07:52. | :07:58. | |
harder, it was hit by hurricane in sandy last year. An industry expert | :07:58. | :08:02. | |
thinks that things are starting to look better. We are starting to look | :08:02. | :08:07. | |
prices, transactions and the market moving in the right direction. That | :08:08. | :08:13. | |
is consistent with what the overall country is doing. But for this | :08:13. | :08:20. | |
couple, it is still a far-off dream. Just like many other first home time | :08:20. | :08:30. | |
:08:30. | :08:31. | ||
buyers, making a living is the reality they are faced with. Watch | :08:31. | :08:34. | |
out TV executive 's, Facebook is coming for some of your advertising | :08:34. | :08:38. | |
revenues. According to a report, the social networking company is going | :08:38. | :08:43. | |
to sell TV like ads on its site for as much as two and a half million | :08:43. | :08:47. | |
dollars per day. The 15 second ads could start appearing on the 1.5 | :08:47. | :08:57. | |
billion Facebook users screens. So says the report. Drinks giant Diageo | :08:57. | :09:03. | |
is to release its full year results in a fall -- in a few hours. It is a | :09:03. | :09:07. | |
result of all the first new executive to outline his plan for | :09:07. | :09:12. | |
the company to tweak the emerging market strategy drawn up by his | :09:12. | :09:16. | |
predecessor. We will be speaking to inhere on world report in two hours | :09:16. | :09:26. | |
:09:26. | :09:27. | ||
time. It is an incredible busy day for the financial markets in Japan. | :09:27. | :09:34. |