:00:00. > :00:00.by her brother, the ousted former leader. Those are the latest
:00:00. > :00:20.headlines. Time for the latest money news.
:00:21. > :00:26.India struggles with this weakest growth in a decade. The question is,
:00:27. > :00:31.will the latest numbers show the green shoots of recovery?
:00:32. > :00:36.The Thanksgiving parades, they are over, let the shopping begin. But
:00:37. > :00:53.America's retailers are expecting a tough time Black Friday.
:00:54. > :00:57.Welcome to the programme. We are going to talk about shopping in the
:00:58. > :01:04.United States. Also in the programme, Australia box `` blocks a
:01:05. > :01:12.US takeover bid for Graincorp. Financial markets are not happy.
:01:13. > :01:15.But first, we start in India, where the Prime Minister and his
:01:16. > :01:21.government are desperately hoping for a rare bit of good news on the
:01:22. > :01:25.economy. India's growth rate has collapsed in the last couple of
:01:26. > :01:29.years, with inflation soaring, companies struggling to invest, and
:01:30. > :01:33.the recent slump in the value of its currency, all because foreign
:01:34. > :01:38.investors are pulling out of India. It's taken a quick look at the
:01:39. > :01:44.numbers. India needs its economy to be growing at 8%. That is what it
:01:45. > :01:48.needs if it is to reduce poverty and provide jobs for the growing number
:01:49. > :01:53.of young people. In the last financial year ending in March,
:01:54. > :02:00.annual growth was only 5%. That is the weakest growth number in a
:02:01. > :02:05.decade. It is half of what it was two years ago. Since then, things
:02:06. > :02:14.have gotten worse. Annual growth was 4.4%. In a few hours, ousted his ``
:02:15. > :02:17.the statistics office will publish figures for the latest quarter. It
:02:18. > :02:26.showed that growth may have picked up a fraction, or .6%. A good
:02:27. > :02:30.monsoon has certainly helped. It has given India's 100 million farmers
:02:31. > :02:36.more money to spend. They spend that in the economy, that is good, but
:02:37. > :02:42.the rupee's kind has also helped the exporter 's. It means them cheaper
:02:43. > :02:46.for all of us to buy. But experts are warning an improvement could be
:02:47. > :02:54.just a blip. They say that annual growth this financial year may be
:02:55. > :03:00.even work `` weaker than last year. We are at a factory that makes auto
:03:01. > :03:04.components. I guess that is the question. Certainly all the people
:03:05. > :03:16.in the factory, the owners, the workers, they want to see some solid
:03:17. > :03:24.growth. Will it just be a blip? I don't think she can hear me.
:03:25. > :03:29.Apologies about that. Maybe the machinery is too loud, I do not
:03:30. > :03:33.know. Let's talk about this. Shares in Australia's biggest grain
:03:34. > :03:38.company, Graincorp, have been plunging this morning after the
:03:39. > :03:43.government blocked a takeover bid by a US rival. The Australian Treasurer
:03:44. > :03:50.said the $2.5 billion offer by ADM was not in the nation and `` the
:03:51. > :03:59.nation's interest. Graincorp shares have slumped by as much as 26%.
:04:00. > :04:11.Thankfully you can hear me. This is interesting. The Prime Minister,
:04:12. > :04:14.Kevin Rudd, when elected, he said Australia is open for business. But
:04:15. > :04:23.some investors may be doubting that now. Also I have to correct you...
:04:24. > :04:30.Kevin Rudd is gone now and we have Tony Abbott. Our fellow Australians
:04:31. > :04:33.are determined not to let the Americans get their hands on this
:04:34. > :04:37.company, Graincorp, which is the biggest handler of Aalborg grain
:04:38. > :04:41.exports. It is a very interesting case, and not just because of that
:04:42. > :04:47.open for business declaration, but also the whole sensitive ``
:04:48. > :04:51.sensitivity about foreign ownership, especially when it comes to food and
:04:52. > :04:56.agriculture. Joe Hockey is keen to point out that he is not going to
:04:57. > :05:00.make a habit of saying no, of the 131 foreign investment applications
:05:01. > :05:05.that he has looked out, he has only rejected one, and this is it. He
:05:06. > :05:10.says there are two reasons, one is competition, and the other is much
:05:11. > :05:15.broader. He says there has been so much concern about the takeover,
:05:16. > :05:19.that if he said yes, it could undermine public support for foreign
:05:20. > :05:24.investment generally. But experts are arguing that buyers may have to
:05:25. > :05:29.start factory on a level of political risk when they are looking
:05:30. > :05:32.at Australian assets. It has been viewed as a potential indication of
:05:33. > :05:38.where this new government is heading. But at the same time that
:05:39. > :05:40.Graincorp has been in play, one of Australia's oldest dairy processors
:05:41. > :05:48.is in the middle of the takeover battle. There is a Canadian company
:05:49. > :05:53.wanting it. Even before we know who is going to win that bidding war,
:05:54. > :05:55.they have been given the green light by the foreign investment
:05:56. > :06:00.regulators. You could say the Canadians are in but the Americans
:06:01. > :06:05.are out. It is too soon to draw any broader conclusions.
:06:06. > :06:11.I do know that Rudd is out, Tony Abbott is in. We will talk to you
:06:12. > :06:18.soon. Let's go to the US, where the nation
:06:19. > :06:23.has been celebrating. The Thanksgiving holiday. These were the
:06:24. > :06:26.scenes in New York. 3 million people gathered to watch the parade.
:06:27. > :06:33.Sponsored by Macy's department store. But if Thursday was about the
:06:34. > :06:39.parades, and the food, today it is all about the shopping. Indeed,
:06:40. > :06:45.Black Friday, as it is known, is the biggest shopping day of the year.
:06:46. > :06:50.The biggest of them all, Walmart, is ready warning of the gloomy times
:06:51. > :06:55.ahead. More Americans have jobs than a year rego, but incomes are failing
:06:56. > :07:03.to keep pace with all the household costs. It our final part of our
:07:04. > :07:10.series, we report from New York where for many, cheap and cheerful
:07:11. > :07:16.is the order of the day. A steady stream of customers keep
:07:17. > :07:23.this couple pretty busy. They owe and this could store and almost
:07:24. > :07:25.everything sells for only $1. These days, they are seeing more
:07:26. > :07:31.customers, and not just their regulate `` regulars. People are
:07:32. > :07:38.losing their jobs, their houses, they are in debt. It is hard for
:07:39. > :07:44.everyone. It is very hard for everyone to spend money. So more of
:07:45. > :07:50.them come here because they do not have to hunt to find a bargain. Of
:07:51. > :07:58.course it is less money because everything is so expensive. We
:07:59. > :08:03.manage. Everything is up in cost. You have more variety here and you
:08:04. > :08:08.get to stretch your dollars more. It is quick, things are radon. Since
:08:09. > :08:13.the economic recession, incomes in the US have been declining. They are
:08:14. > :08:19.barely outpacing inflation, which means that people these days have
:08:20. > :08:25.less money in their pocket. Why does that matter? If people have less to
:08:26. > :08:29.spend? This economy depends on consumers making purchases, and lots
:08:30. > :08:37.of them. If people are not in the shops, the economy as a whole
:08:38. > :08:41.suffers. The typical family, on a low income level, has two spent
:08:42. > :08:46.every dime they make. So that money gets circulate it in the economy,
:08:47. > :08:49.causing growth, but what we are seeing is that families have low
:08:50. > :08:53.incomes, they are spending everything they have but it is still
:08:54. > :08:57.not enough to sustain the kind of consumers spending that we really
:08:58. > :09:04.need. In an economy that needs consumers to shop, the people
:09:05. > :09:11.staking these idols are doing their part for the recovery, even if it is
:09:12. > :09:16.only $1. We are going to keep across the big
:09:17. > :09:22.spend on Black Friday. Let's touch on this particular story. Can she
:09:23. > :09:33.price inflation in Japan hit a five`year high in October. ``
:09:34. > :09:38.consumer. It rose 09%. It is being seen as a victory for the Prime
:09:39. > :09:40.Minister, who is trying to end inflation and try to reinvigorate
:09:41. > :09:46.the world 's's third largest economy, but his stimulus policies
:09:47. > :09:47.through all about. Let's have a quick look at the Asian
:09:48. > :10:15.markets. A major new report is out in the UK
:10:16. > :10:19.which says that radical action is needed to stop town centres and high
:10:20. > :10:28.streets from falling into terminal decline. It is estimated that they
:10:29. > :10:31.are ruffled T5 vows and `` 45,000 empty shops in Britain, and the
:10:32. > :10:36.distressed town property task force says that many towns and cities need
:10:37. > :10:41.rebuilding on a scale not seen since after the Second World War.
:10:42. > :10:49.What to do about all of these empty shops blighting our town centres?
:10:50. > :10:53.They galvanised communities into action. There have been a host of
:10:54. > :10:57.Government schemes, but there is no quick fix. He is the head of a group
:10:58. > :10:59.of retailers, bankers, landlords and