Browse content similar to 24/02/2014. Check below for episodes and series from the same categories and more!
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and employment laws. Those are the latest headlines from | :00:00. | :00:00. | |
BBC World News. Now for the latest financial news | :00:00. | :00:00. | |
with the World Business Report. The fight over the future of North | :00:00. | :00:21. | |
Sea Oil. The UK and Scottish cabinets hold separate meetings in | :00:22. | :00:26. | |
Scotland to announce their plans. Smartphones, smart watches and smart | :00:27. | :00:32. | |
everything.... The Mobile World Congress kicks off in Barcelona and | :00:33. | :00:35. | |
we are there to give you your latest tech fix. | :00:36. | :00:42. | |
Welcome to World Business Report. I'm Sally Bundock. Also in the | :00:43. | :00:47. | |
programme, the gap between the rich and poor is widening. We look at | :00:48. | :00:51. | |
plans to change taxation in Africa in a bid to bridge that gap. | :00:52. | :00:56. | |
The politicians are out in force in Scotland today. For the UK it is | :00:57. | :01:00. | |
only the second time a full cabinet meeting has taken place in Scotland | :01:01. | :01:05. | |
for 90 years. The reason - the future of north sea oil, an industry | :01:06. | :01:09. | |
worth billions, and one that is at the centre of the debate over | :01:10. | :01:13. | |
Scottish independence. Prime Minister David Cameron says the oil | :01:14. | :01:16. | |
and gas industries would be best served by Scotland remaining in the | :01:17. | :01:20. | |
UK. But Scotland's first minister Alex Salmond argues independence | :01:21. | :01:22. | |
would bring "enormous" benefits to the sector. With me is Lawrence | :01:23. | :01:29. | |
Gossling, Editor-in-Chief at Investment Week. Good morning. Good | :01:30. | :01:40. | |
morning. The debate is getting stronger the closer we get to the | :01:41. | :01:45. | |
vote that will happen later in the year. What is your take on the | :01:46. | :01:51. | |
arguments? It is critical to the future of Scotland's. The G sector | :01:52. | :02:02. | |
is hugely important the UK economy -- energy sector. It has played a | :02:03. | :02:11. | |
huge part in creating new jobs and generating tax revenue. The London | :02:12. | :02:17. | |
based government does not want to lose access to that. Post- | :02:18. | :02:25. | |
devolution, is unclear. Companies like Shell and BP operate from | :02:26. | :02:30. | |
Scotland because the UK is a global place to do business. As the debate | :02:31. | :02:35. | |
continues in this country about the future of Scotland and the UK, many | :02:36. | :02:42. | |
economists are saying they are concerned about this because it is | :02:43. | :02:48. | |
difficult to predict what the outcome will be. In terms of what | :02:49. | :02:59. | |
the UK will be like as a place to invest and do business, there is a | :03:00. | :03:01. | |
cloud of uncertainty surrounds in this vote. Certainly. They want the | :03:02. | :03:07. | |
UK to be the place to do business for international business and the | :03:08. | :03:14. | |
energy sector is a big part of this. We are not sure how easy it is. Who | :03:15. | :03:19. | |
controls what comes out of the North Sea? Is it Scottish? That creates a | :03:20. | :03:29. | |
huge amount of uncertainty and may make BP and Shell want to spend | :03:30. | :03:32. | |
their money in other parts of the world. Thank you Lawrence. He will | :03:33. | :03:38. | |
return to help us review the papers this morning. Let's move on. It's | :03:39. | :03:43. | |
the event mobile phone fans the world over has waited for. Today | :03:44. | :03:46. | |
Mobile World Congress opens in Barcelona, Spain. This year there is | :03:47. | :03:51. | |
more buzz than usual as the great and the good of the industry from | :03:52. | :03:54. | |
Samsung to Nokia are expected to show off their latest gear. One | :03:55. | :04:00. | |
absentee is notable though. Apple will not be at the event. They have | :04:01. | :04:09. | |
their own events. And although it doesn't open officially until today. | :04:10. | :04:12. | |
Some exhibitors jumped the gun, like South Korea's Samsung, that showed | :04:13. | :04:15. | |
of the second generation of it's smart watch, the Gear two. It hopes | :04:16. | :04:18. | |
that by adding some health related features it will be a bigger success | :04:19. | :04:25. | |
than its lack-lustre predecessor. Another was Huawei, the world's | :04:26. | :04:28. | |
third largest mobile phone maker. It showed off its version of wearable | :04:29. | :04:33. | |
tech, the TalkBand. Mark Gregory met up with them at the show. | :04:34. | :04:42. | |
This is the first event of this year 's Mobile world Congress, and the | :04:43. | :04:52. | |
Chinese are coming. This event is being hosted by her Wiley, the | :04:53. | :04:58. | |
ambitious Chinese company that wants to be one of the top makers by 2017. | :04:59. | :05:01. | |
Let's see what they have to offer. This is one of the most senior | :05:02. | :05:25. | |
executives in the business division of the company and he will show me | :05:26. | :05:31. | |
some of its new products. What is on your wrist? It is a torque band. So | :05:32. | :05:44. | |
it is not just a smart watch. If I have a phone call, I can put this | :05:45. | :06:00. | |
against my ear. So it is working with the tablet? You can talk on the | :06:01. | :06:06. | |
phone, listen to music, all sorts of things. Another thing is tracking. | :06:07. | :06:14. | |
This will track your sleep, your working... So it is a bit like | :06:15. | :06:25. | |
fitness bands to monitor your bodily functions. You can share it to the | :06:26. | :06:33. | |
cloud it is a talk in and tracking band. Can you consider it yourself | :06:34. | :06:42. | |
is world number one one day western yellow it is our target. He will | :06:43. | :06:53. | |
give us more as it progresses. Unprecedented economic growth in a | :06:54. | :06:56. | |
number of African countries is going hand in hand with soaring | :06:57. | :06:58. | |
inequality, according to a new report from the international | :06:59. | :07:00. | |
development agency Christian Aid. And not only that, the report claims | :07:01. | :07:03. | |
the surge in inequality is not simply the result of the rich | :07:04. | :07:06. | |
getting richer; instead, there is clear evidence that in many cases | :07:07. | :07:09. | |
growth is taking place at the expense of the poor. Tax is one of | :07:10. | :07:13. | |
the most potent tools governments have to address inequality, but tax | :07:14. | :07:15. | |
systems in many African countries currently do not fulfil that | :07:16. | :07:26. | |
function. Instead, taxes have been introduced that disadvantage the | :07:27. | :07:28. | |
poor, while the rich manage to avoid them. With me is Andrew Hogg, | :07:29. | :07:35. | |
Spokesperson for Christian Aid. Good morning Andrew. Please explain how | :07:36. | :07:42. | |
these tax systems are not benefiting the poor. The tax network and | :07:43. | :07:47. | |
Christian aid looks at the tax systems in eight countries in | :07:48. | :07:54. | |
Africa. We discovered that the tax system encouraged by companies has | :07:55. | :08:01. | |
caused the government to lower tax rates on consumption. Those taxes | :08:02. | :08:11. | |
disadvantage the poorest. The revenue authorities are also failing | :08:12. | :08:15. | |
to go after the higher net individuals. That is particularly | :08:16. | :08:21. | |
true in South Africa. The level of exemption being given to | :08:22. | :08:25. | |
multinationals is far too high, and the industries that are benefiting, | :08:26. | :08:29. | |
whereas it used to be the extractive industries that would get the tax | :08:30. | :08:35. | |
breaks, it is now spreading into other sectors. How can this be | :08:36. | :08:41. | |
overcome? Many countries look to the IMF for funding and they need to | :08:42. | :08:47. | |
follow their guidelines in terms of taxation policies. Also, there is | :08:48. | :08:56. | |
the sense in some African economies, those highly net worth individuals, | :08:57. | :08:59. | |
there is a relationship thought to be had between them and government | :09:00. | :09:04. | |
officials. They want to encourage business investment and what is | :09:05. | :09:10. | |
growing. The secret is greater transparency. There are three | :09:11. | :09:18. | |
reforms that introduced at a national level, how they could make | :09:19. | :09:25. | |
a difference. This is beneficial for owners of companies. We want to see | :09:26. | :09:29. | |
that in every country. Automatic exchange of information between tax | :09:30. | :09:38. | |
authorities. The requirements of multinationals to report on the | :09:39. | :09:45. | |
profits they make the tax they pay. We have to leave it there. We talk | :09:46. | :09:53. | |
about this for a long time. Before I say goodbye, I want to show you the | :09:54. | :09:59. | |
markets. We have a tale of two lost cities. That is not the right way to | :10:00. | :10:04. | |
put it, but we have two scenarios going on Asia. In China we have had | :10:05. | :10:13. | |
a rough session. It is mainly on reports that there are property | :10:14. | :10:20. | |
lending curves going in China, to curb lending. That will give you a | :10:21. | :10:26. | |
sense of how things are going. That is all for our business report. | :10:27. | :10:30. | |
Stagings and we will review the papers. | :10:31. | :10:39. | |
-- stay tuned. Many thanks for that. | :10:40. | :10:50. | |
Some of Jimmy Savile's victims say they weren't believed when they | :10:51. | :10:53. | |
first reported the attacks. A joint report from the police and NSPCC - | :10:54. | :10:57. | |
based on interviews with 57 people who reported abuse - | :10:58. | :10:58. |