:00:00. > :00:00.teenager was shot dead by police. Those are the latest headlines. Time
:00:00. > :00:20.for the latest money news. Here is the world business report. India's
:00:21. > :00:23.Central Bank is expected to raise interest rates for the second
:00:24. > :00:32.straight month in a bid to bring down what is the highest consumer
:00:33. > :00:35.inflation and Asia. It sold nearly 30 million iPhones between July and
:00:36. > :00:50.September but profits of Apple are still falling. We will find out why.
:00:51. > :00:54.Welcome. And a moment, we will be live in Singapore for the latest in
:00:55. > :01:00.the Asian markets. First, it is one of the most valuable tax companies
:01:01. > :01:09.in the world. It is by market calculation, one of the most
:01:10. > :01:14.powerful. Apple continued to be cut extremely profitable but not as much
:01:15. > :01:17.as analysts were hoping for. The company ended its fiscal year with
:01:18. > :01:38.its first annual earnings decline in 11 years. From London... To Tokyo to
:01:39. > :01:44.``... People couldn't wait to get their hands on the newest additions
:01:45. > :01:52.to the Apple family. This is the flagship store on fifth Ave. Judging
:01:53. > :01:56.by the crowds, it you would figure that this company can do no wrong.
:01:57. > :02:03.It has released its new product line, the first since the iPad which
:02:04. > :02:07.was three years ago. In an event, Tim Cook unveiled a range of
:02:08. > :02:12.products. Prime updated operating system to a wafer thin new iPad.
:02:13. > :02:17.These were just small improvements to an already existing product.
:02:18. > :02:21.People are getting anxious to see what will be the next big game
:02:22. > :02:26.changer by Apple, whether it will be a TV, watch, or some unknown thing.
:02:27. > :02:31.I think they will be onto something but it is a matter of when. For the
:02:32. > :02:42.existing products, a pink what we will expect as performance
:02:43. > :02:46.improvements. That is exactly what Apple has done. Despite a drop in
:02:47. > :02:51.profits, iPhones continue to be its big`money maker, selling a record
:02:52. > :02:58.33.8 million in the last few months. That is up by more than 25%. For all
:02:59. > :03:07.of the knocks on them. When they come out, people stand in line and
:03:08. > :03:10.buy them. Imagine what they could do with something like a watch or a
:03:11. > :03:15.television. That is what they need to put out there. The next three
:03:16. > :03:18.months will be crucial as the all`important holiday shopping
:03:19. > :03:23.season looms. Apple is already warning that its future profits may
:03:24. > :03:39.slide, making the expectation for something new just that much
:03:40. > :03:45.greater. They had asked Formula One Bernie
:03:46. > :03:50.Ecclestone is facing allegations that he undervalued the company when
:03:51. > :03:55.he sold it to a private equity firm in 2005. It is the first in several
:03:56. > :04:01.cases against them which relates to a bribery case in Germany. He has
:04:02. > :04:05.been accused of bribing a German banker to engineer the sale of the
:04:06. > :04:12.sport. The UK government will, on Tuesday,
:04:13. > :04:18.publish a report into a controversial plan into HS2. It is
:04:19. > :04:25.expected to justify the ?42.6 billion or near $70 billion cost of
:04:26. > :04:35.the network. The estimated cost has risen from ?34.2 billion. It would
:04:36. > :04:41.mean 14 years of route closures and longer journeys. Cyber crime is the
:04:42. > :04:53.greatest global threat to organisations today according to
:04:54. > :04:56.accountants Ernst and Young. 90% of companies are increasing security
:04:57. > :05:07.but attacks continue to rise. They also warn an IT shortage is leaving
:05:08. > :05:09.companies open to attack. The British Prime Minister David Cameron
:05:10. > :05:16.is set to announce the UK will become the first non` Muslim country
:05:17. > :05:22.to issue an Islamic on. The world as long economic Forum in London is
:05:23. > :05:26.also due to discuss plans for a new Islamic index for the stock exchange
:05:27. > :05:33.which is attempting to attract more investors. The US government is
:05:34. > :05:36.expected to hand the Indian giant with the largest and aggression
:05:37. > :05:43.fight ever after claims it illegally placed workers on visitor rather
:05:44. > :05:56.than work visas across the US. The government is due to announce that
:05:57. > :06:00.they in ten to find the company. Let's get an update on how the Asian
:06:01. > :06:09.markets are doing this hour. We will cross over to our Singapore
:06:10. > :06:12.correspondent, Rico Hizon. There is strong data out of Japan suggesting
:06:13. > :06:19.that consumers that are doing some serious spending. Absolutely. They
:06:20. > :06:26.are shopping. They are spending. That is basically a showing up in
:06:27. > :06:29.the September consumer spending report which is basically due to a
:06:30. > :06:37.couple of factors. People are purchasing things that they like
:06:38. > :06:41.before sales stack hikes will shall be permitted next year. Overall, the
:06:42. > :06:47.Japanese seem to be more confident about the economy. The 3.7% gain in
:06:48. > :06:59.household spending was the strongest in six months, exceeding
:07:00. > :07:05.expectations. Analysts are saying the data is proof that the economy
:07:06. > :07:08.is continuing to get support from robust personal consumption which
:07:09. > :07:13.could add 15 years of deflation or falling prices. The stronger labour
:07:14. > :07:26.market is also driving India and the uptrend. It is suggesting that
:07:27. > :07:37.Shinzo 's attempts are working. How markets across Asia reacting? A bit
:07:38. > :07:39.lethargic. Regional stocks are basically tracking, developments in
:07:40. > :07:44.the US rather than Japan's are better than expected. Spending
:07:45. > :07:49.numbers... Investors are waiting on the sidelines for the result of the
:07:50. > :08:05.US Central Bank's two`day meeting which is expected to announce they
:08:06. > :08:19.will stay on their stimulus issues. Thank you. A piece of news just in.
:08:20. > :08:24.India's Central Bank has raised its interest rates by 25 basis points.
:08:25. > :08:29.That was expected. It is the second time the bank has done so in the
:08:30. > :08:35.past two months. The reason? India is fighting rampant inflation. In
:08:36. > :08:41.September, so consumer prices rose 9.84% on an annual basis. That is
:08:42. > :08:47.the fastest pace in three months. That is due to soar inflation to
:08:48. > :08:55.18.4% in September. It is the highest level since mid`2010. It was
:08:56. > :09:00.driven up by a massive drop in onion prices. Inflation hasn't struck by a
:09:01. > :09:06.decline in the rupee as will. It dropped the currency by 10% busier.
:09:07. > :09:12.Fears that the US Federal Reserve will pull in its stimulus programme.
:09:13. > :09:17.My colleague will speak to the head of the Reserve Bank of India,
:09:18. > :09:24.Raghuran Rajan, later. You can catch that interview on Wednesday. Let's
:09:25. > :09:25.get an update on the markets. Rico was giving us the background. Let's
:09:26. > :09:27.have a look at the numbers. get an update on the markets. Rico
:09:28. > :09:33.was giving us the background. We can see, Asian shares are wavering in
:09:34. > :09:42.the recent ranges. The Nikkei is down. In Hong Kong we have got the
:09:43. > :09:49.markets fairly flat. We have also seen the dollar hold off recently as
:09:50. > :09:55.investors wait an outcome on the policy meeting at the US Federal
:09:56. > :09:58.Reserve. It is expected to stay the course on its stimulus programme.
:09:59. > :10:14.That is it from me. Goodbye. In the UK, for the first time,
:10:15. > :10:20.victims of crime will be allowed to confront offenders directly in
:10:21. > :10:21.courts in England and Wales. A new code published today will
:10:22. > :10:25.automatically allow victims to personally addressed the judge and
:10:26. > :10:29.the offender at the end of the criminal trial. The government says
:10:30. > :10:37.it is designed to stop them feeling like an afterthought and the
:10:38. > :10:41.criminal justice system. Catherine was murdered last year by
:10:42. > :10:42.her boyfriend. He wanted to claim her life