:00:00. > :00:08.Aires. The files contained transcripts of all meetings held by
:00:09. > :00:11.the military to enter. `` military junta. Those are the latest
:00:12. > :00:14.headlines from BBC World News. Now for the latest financial news
:00:15. > :00:19.with World Business Report. We deserve to live not just exist `
:00:20. > :00:25.we look ahead to a landmark vote in the US to raise the minimum wage.
:00:26. > :00:28.Next stop Mars ` with India set to blast off, we will look at the cost
:00:29. > :00:37.of entering the international space race.
:00:38. > :00:40.Welcome to World Business Report. I'm Sally Bundock. Also in the
:00:41. > :00:46.programme ` Nissan shares plunge in Tokyo as Japan's second biggest car
:00:47. > :00:49.maker warns about profits. Around the world, household incomes
:00:50. > :00:55.are being squeezed as prices rise faster than wages. In much of Europe
:00:56. > :00:58.and in the United States we're now worse off than we've been for a
:00:59. > :01:02.generation. That's sparked an international movement for a
:01:03. > :01:05.so`called living wage. In the US, millions of fast`food workers have
:01:06. > :01:12.set that at about $15 an hour, that's more than double the current
:01:13. > :01:16.national minimum wage of $7.25. And today, one city in the US could be
:01:17. > :01:28.the first to enshrine this ideal into law. Samira Hussain reports
:01:29. > :01:31.from Seattle. In the small town on America's West
:01:32. > :01:41.Coast, this woman as part of a group who spend their evenings going
:01:42. > :01:46.door`to`door, canvassing the change. The town that spans roughly 26
:01:47. > :01:52.kilometres, home to 27,000 people. Members of this committee are
:01:53. > :01:57.pushing for a big change. They want an increase to the minimum wage.
:01:58. > :02:00.Workers to $15 an hour while. Advocates say people in low skilled
:02:01. > :02:08.jobs should be able to make enough to live. In this small apartment,
:02:09. > :02:13.this meant support his wife, his son, and his mother. Despite working
:02:14. > :02:19.full`time, he finds making ends meet tough. If we get a better wage, it
:02:20. > :02:25.will be quite easy. We need to pay things. I have no money in my hand.
:02:26. > :02:31.It is hardly enough to pay for everything. While the minimum wage
:02:32. > :02:37.in the US has steadily increased over the years, the actual value has
:02:38. > :02:43.declined. Comparatively, people are now earning less. This is the main
:02:44. > :02:50.economic engine, the international airport. If the minimum wage
:02:51. > :02:56.increases to $15 per hour, most of the 6300 people who will benefit
:02:57. > :02:59.work here. It is also at the airport that she will find detractors, those
:03:00. > :03:06.who say that that simply is unaffordable. This man owns this
:03:07. > :03:14.fast food restaurant in the terminal. If proposition one passes,
:03:15. > :03:21.he fears the worst. Going from $9 16 and now, to $15 an hour, it is a
:03:22. > :03:25.make any sense to us. There is no way we can compete and survive. This
:03:26. > :03:33.is the country that gave birth to the American dream, but people are
:03:34. > :03:39.now angry at rising inequality. This suburb is the latest battleground in
:03:40. > :03:47.that fight. If successful, what happens here could spread to other
:03:48. > :03:52.American cities. Shares in this and have fallen 11%
:03:53. > :03:57.in Tokyo today. It came after the firm cut its profit forecast at the
:03:58. > :04:05.end of last week. The Japanese carmaker expects to make a profit of
:04:06. > :04:14.three and 35 billion yen. `` 350 5 billion yen.
:04:15. > :04:22.The Japanese markets were closed yesterday, it is why we are seeing
:04:23. > :04:27.the reaction today. Tell us more. It is a disappointment for many
:04:28. > :04:32.investors, those we can expect of numbers. Shares are currently being
:04:33. > :04:41.offloaded and are now at seven`month lows. A major reduction in the
:04:42. > :04:47.annual profit estimate. It is being blamed on a host of factors.
:04:48. > :04:57.Particularly on emerging markets and quality issues. The president of in
:04:58. > :05:08.this and contributed it to poor conditions in Europe. The volatile
:05:09. > :05:12.market have been lent. Shares in Russia, Indonesia and Brazil are
:05:13. > :05:16.currently shrinking. The numbers are surprisingly adding up in China,
:05:17. > :05:21.amid slowing growth in that market. Despite slowing sales, they have set
:05:22. > :05:25.aggressive expansion targets over the next few years for Japan's
:05:26. > :05:36.second`biggest carmaker by boosting global market share and its
:05:37. > :05:43.operating margin. They are optimistic about going forward.
:05:44. > :05:48.Thank you. Some good news for thousands of homeowners across
:05:49. > :05:52.hungry. Its Parliament is expected to pass a law today to reduce the
:05:53. > :05:55.size of their mortgage debt. More than a million Hungarians took out
:05:56. > :05:58.loans in foreign currencies to take advantage of low interest rates.
:05:59. > :06:00.But, the size of their debts skyrocketed when the value of the
:06:01. > :06:07.Hungarian currency, the Forint, plunged in the aftermath of an
:06:08. > :06:14.economic crisis. Our correspondent in Budapest is Nick Thorpe.
:06:15. > :06:20.This is a fairly proactive move, isn't it? Tell us more about how
:06:21. > :06:28.they hope to rescue households who are saddled with debt. As you say,
:06:29. > :06:31.more than 1 million Hungarians, 10% of the population, took up these
:06:32. > :06:44.loans. They have been an enormous burden. It is slowing down the whole
:06:45. > :06:47.economy. The latest move is an expansion of one of the tools they
:06:48. > :06:58.have already introduced. It is called an extreme 's rate mechanism.
:06:59. > :07:03.`` and exchange rate mechanism. People will pay the mortgage at to
:07:04. > :07:10.exchange rate. It has been reduced. Most of the loan are in Swiss
:07:11. > :07:16.francs. The current rate is 240. It has been reduced to 180. They paid
:07:17. > :07:23.at one rate. The rest of the money they have to pay into a separate
:07:24. > :07:31.account. It is a complicated matter. They're going to vote that through
:07:32. > :07:36.this morning. Thank you. As you have been hearing, in a few hours time,
:07:37. > :07:42.the Indian space agency will launch a spacecraft to go where no Asian
:07:43. > :07:46.nation has gone before. We are talking about Mars. If they are
:07:47. > :07:50.successful it will be a technological leap that will propel
:07:51. > :07:53.India ahead of rivals China and Japan in the field of inter`
:07:54. > :07:58.planetary exploration. The country has been criticised for spending on
:07:59. > :08:03.a space programme and has millions of poor living on less than $1 per
:08:04. > :08:09.day. This mission has cost $73 million. In contexts that is a small
:08:10. > :08:15.amount. In the US, it would cost ten times as much grace similar mission.
:08:16. > :08:22.India has spent around $1 billion a year on space programme. It has 20
:08:23. > :08:28.satellites in orbit. To talk through Siam joined by the president of the
:08:29. > :08:33.inter` planetary Society. Thank you for being with us. There is a huge
:08:34. > :08:39.debate about a country like India investing so much in space. I am
:08:40. > :08:45.assuming that you would be for this kind of investment. Give us your
:08:46. > :08:50.argument, given the thousands, if not millions of people struggling to
:08:51. > :08:57.get by in India. As recognised by India, the space technology is a
:08:58. > :09:00.very powerful one, and a very important one of the country is
:09:01. > :09:04.going to progress. They have recognised this and made the
:09:05. > :09:11.investment. They have been very clever about their investment
:09:12. > :09:14.because they ate used to buying their spacecraft and equipment. They
:09:15. > :09:20.have started manufacturing this themselves. You always be the next
:09:21. > :09:25.target. They have been trying to get ahead again, now they are doing.
:09:26. > :09:32.They are doing their own thing. They went to the moon in 2008, were next?
:09:33. > :09:34.Mars has to be it. What evidence is there to show that countries that
:09:35. > :09:39.have pushed forward in terms of their space programmes have seen an
:09:40. > :09:46.economic benefit for the whole economy, as opposed to a small
:09:47. > :09:53.industry or aspect of an economy. It goes fairly deeply into the whole of
:09:54. > :09:58.the lifeblood of the nation. Education takes a great leap
:09:59. > :10:03.forward. People come on board, they see the technologies that they want
:10:04. > :10:09.to use in everyday life. They start to actually take an interest and
:10:10. > :10:17.become highly educated. We are now using a lot of our best engineers
:10:18. > :10:26.from India and China. We'll have to leave this conversation at this
:10:27. > :10:29.point. We appreciate your time. We have run out of time here on
:10:30. > :10:32.World Business Report. We appreciate your company. The paper review in a
:10:33. > :10:45.few minutes. According to a major new study,
:10:46. > :10:47.migrants who've come to the UK since the year 2000 have made a
:10:48. > :10:51.substantial contribution to public finances. The report from the Centre
:10:52. > :10:53.for Research and Analysis of Migration at University College,
:10:54. > :10:56.London found that recent immigrants were less likely to live in social
:10:57. > :11:08.housing or claim benefits, than people who were born in Britain.
:11:09. > :11:12.The debate about immigration has been fuelled by claims of benefit
:11:13. > :11:16.tourism. There is an argument that migrants come to the UK to live off
:11:17. > :11:19.the state. This details report suggests those claims are not true.
:11:20. > :11:20.Rather than being