:00:00. > :00:00.BBC News. Now for the latest financial news with Sally Bundock
:00:00. > :00:18.and World Business Report. Know your rights: the EU votes on
:00:19. > :00:24.new compensation packages for delayed airline passengers. Gearing
:00:25. > :00:27.up for the Delhi car show: Concerns over vehicle sales in India is set
:00:28. > :00:28.to overshadow today's glitzy new model launches Welcome to World
:00:29. > :00:42.Business Report. I'm Sally Bundock. Also in the show,
:00:43. > :00:45.how are Asian markets faring today following the massive falls
:00:46. > :00:50.yesterday? Our team in Singapore will have the latest for you. But
:00:51. > :00:54.first. Queuing and delays are part of the course when it comes to
:00:55. > :00:57.flying around the world. But when can a passenger claim compensation
:00:58. > :01:01.for protracted delays? For example do you deserve your money back if
:01:02. > :01:05.you are kept waiting on a short haul flight for more than three hours?
:01:06. > :01:09.These are the questions the European parliament hopes to clarify in a new
:01:10. > :01:11.air passenger rights bill today. The Commission wants to improve the
:01:12. > :01:18.information available to passengers in the event of delays and set out
:01:19. > :01:25.the rules for compensation. They include. The right for passengers to
:01:26. > :01:28.disembark planes stuck on the tarmac after two hours. The right for
:01:29. > :01:33.compensation after a three hour delay on short haul flights. And to
:01:34. > :01:36.force airlines to take out insurance policies that ensure all passengers
:01:37. > :01:42.are returned home if the airline becomes insolvent. The new measures
:01:43. > :01:48.will be voted on by the European parliament later today. So what do
:01:49. > :01:56.airlines make of this? David Henderson is spokesperson for the
:01:57. > :02:00.Association of European Airlines. Welcome to the programme. Many would
:02:01. > :02:07.look at this and think, clearer rules about compensation, surely
:02:08. > :02:11.that is a good thing. Clearer rules, for sure. The current
:02:12. > :02:19.situation, passengers are already protected. They have been for many
:02:20. > :02:24.years. There are many grey areas and areas of uncertainty which do need
:02:25. > :02:28.clarifying. Talking of the grey areas, is strike action one of
:02:29. > :02:33.those? For example if staff in an airport or airline staff are on
:02:34. > :02:40.strike and this causes delays and problems, that is a grey area is
:02:41. > :02:49.not. One of the things which the process is looking at is so called,
:02:50. > :02:57.extraordinary circumstances in which circumstances which an airline can
:02:58. > :03:06.do nothing about. There is a certain amount of debate about whether a
:03:07. > :03:13.strike, the hit of airport personnel, constitutes an extra
:03:14. > :03:19.Greek circumstantial. We would say, yes it does. Even if you know about
:03:20. > :03:23.it in France, if the whole of French airspace closes down, there is not
:03:24. > :03:29.much you can do to avoid delays. In terms of compensation, surely it
:03:30. > :03:33.would boost the airline industry is passengers knew when things go
:03:34. > :03:37.wrong. They will get good compensation and the process will be
:03:38. > :03:47.clear. They will be more willing to fly? The whole compensation issue is
:03:48. > :03:52.a complicated one. When the current rules were formulated ten years ago,
:03:53. > :03:57.there was no question of compensating passengers for delay.
:03:58. > :04:01.They were looked after, of course. They were given meals and
:04:02. > :04:06.accommodation but financial compensation was limited to
:04:07. > :04:10.passengers whose flights were cancelled for no good reason or who
:04:11. > :04:15.turned up and there was not a seat for them even though they had a
:04:16. > :04:21.ticket. The issue of compensating people for delay is something which
:04:22. > :04:25.has risen throughout the last ten years and what these rules set out
:04:26. > :04:32.to do is to clarify when and under what circumstances that may happen.
:04:33. > :04:38.In a short response, as you say, the devil is in the detail. Are you
:04:39. > :04:43.hopeful that today's vote on these rules will clarify the situation and
:04:44. > :04:50.will enable the system to work better for passengers and airlines?
:04:51. > :04:57.We would hope so. Today's vote is part of a process that involves the
:04:58. > :05:03.other areas of the European Union. When all is clear, we would like to
:05:04. > :05:07.think that the passenger will be better served with better
:05:08. > :05:18.information and clarity. David Henderson.
:05:19. > :05:23.It is press day at the Delhi car show in India today with carmakers
:05:24. > :05:28.from around the world hoping that their latest model will be the must
:05:29. > :05:32.have vehicle of 2014. India's car industry has been hit by a prolonged
:05:33. > :05:37.slowdown after car sales dipped for the first time in over a decade. So
:05:38. > :05:42.as India gears up to host one of the biggest auto expos in Asia, can the
:05:43. > :05:48.sector come out of the slump? Shilpa Kannan has more from the Delhi car
:05:49. > :05:54.show. Trying to get back into the
:05:55. > :06:00.spotlight, these are the first new cars from Tata Motors in nearly four
:06:01. > :06:04.years. It is one of the country 's biggest carmakers. But sales fell by
:06:05. > :06:10.more than one third last year. Worse than any of its rivals. It was not
:06:11. > :06:16.meant to pan out like this. This was the ultra cheap small car that Tata
:06:17. > :06:22.Motors created. Supposed to revolutionise the industry. But the
:06:23. > :06:29.$2000 Nano has disappointed since its launch. The company, now wants
:06:30. > :06:34.to change its strategy. If you look at the buyers, look at the
:06:35. > :06:39.demographic. We are seeing younger buyers coming to the market. Cheap
:06:40. > :06:42.is not what they are looking for, they are looking for the right value
:06:43. > :06:48.and something that in hands of their identity. We are embarking on a
:06:49. > :06:54.complete repositioning of that. It is not just Tata Motors. Every other
:06:55. > :07:02.Indian carmaker is trying to tempt the consumers. In a market down 10%,
:07:03. > :07:06.one of its worst years in a decade. Customers are hardly flocking to the
:07:07. > :07:11.showrooms these days. Borrowing has become more expensive in the last
:07:12. > :07:16.couple of years. With two thirds of cars in India being sold on loads,
:07:17. > :07:28.purchasing decisions are now delayed. The market is not uniformly
:07:29. > :07:35.bad. Foreign firms are sitting on months of order. -- orders.
:07:36. > :07:39.Launching a new prototype of the existing compact car, the company
:07:40. > :07:49.says that getting India right is critical. Our investments are on
:07:50. > :07:54.track. We are investing billions in India, some of that on a new
:07:55. > :08:00.facility. That facility will be operational by the end of the year.
:08:01. > :08:04.Great potential in this market. While India's urban roads may be
:08:05. > :08:09.struggling with traffic, there are millions of people still looking to
:08:10. > :08:14.buy their first car. Carmakers in Asia's third last is auto market are
:08:15. > :08:17.hoping that the show will drive interest and sales to help change
:08:18. > :08:31.the fortunes of the industry. Now, yesterday we covered the
:08:32. > :08:35.markets sliding around the world. But stocks in Asia are faring a
:08:36. > :08:39.better today. Let's cross over to Rico Hizon - live in our Asia hub in
:08:40. > :08:46.Singapore now - to find out. How is it going? There was an exciting
:08:47. > :08:54.start to the market today. The rally fizzled in midday trading with
:08:55. > :09:06.sentiment now rather miss -- mixed. You have Hong Kong in ever did -- in
:09:07. > :09:12.negative territory. Australia is bucking the upward trend in some of
:09:13. > :09:18.the market is with the Australian dollar gaining in the central bank.
:09:19. > :09:23.It is easing bias towards interest rates. The performance was all the
:09:24. > :09:28.more disappointing as a major corporate names reported up the
:09:29. > :09:42.earnings. Japan is currently being led by Panasonic. To get
:09:43. > :09:48.Panasonic is the shining star today in terms of the share price
:09:49. > :09:56.performance? It is all because of several reasons. Cost-cutting, a
:09:57. > :09:59.steady new home construction set and a depreciation of the Japanese yen
:10:00. > :10:08.against the US dollar. The currency is declined has helped Japanese
:10:09. > :10:12.exporters. It also benefited domestically from last-minute
:10:13. > :10:15.purchases for appliances, television sets and batteries ahead of the
:10:16. > :10:24.April one increase. Thank you for in investing your time
:10:25. > :10:32.is with us!