Browse content similar to 26/03/2014. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
made the statement on her website. Those are the latest headlines from | :00:00. | :00:00. | |
BBC World News. Now for the latest financial news with World Business | :00:00. | :00:00. | |
Report. Could this be the future of gaming? | :00:00. | :00:21. | |
Facebook CEO Mark Zuckerberg thinks so and has just bought the start`up | :00:22. | :00:24. | |
virtual reality company Oculus for $2 billion. Cash is King: The maker | :00:25. | :00:31. | |
of Candy Crush raises $500 million at its market listing in New York | :00:32. | :00:35. | |
valuing the gaming company at over $7 billion. | :00:36. | :00:41. | |
Welcome to World Business Report. I'm Sally Bundock. Also in the | :00:42. | :00:47. | |
programme: Who will benefit most from President Xi Jinping's visit to | :00:48. | :00:48. | |
Europe? We'll get an expert view. "It could change the way we work, | :00:49. | :01:00. | |
play and communicate" ` those are the words of Facebook's chief | :01:01. | :01:02. | |
executive about a technology start`up it's just agreed to buy for | :01:03. | :01:05. | |
$2 billion dollars. Mark Zuckerberg is betting that Oculus, a | :01:06. | :01:07. | |
Californian company which specialises in virtual reality | :01:08. | :01:10. | |
products, has the most innovative tech leading to a new way for people | :01:11. | :01:13. | |
to communicate, learn or be entertained. The start`up's flagship | :01:14. | :01:21. | |
product, the Oculus Rift, is a goggle`like "immersive" headset for | :01:22. | :01:23. | |
video gaming.The designer says he wanted to create a gaming experience | :01:24. | :01:31. | |
like in the film 'The Matrix'. This to my parents garaged and those | :01:32. | :01:34. | |
interested in stereoscopic displays. The problem was that there | :01:35. | :01:37. | |
was nothing that gave me the experience that I wanted. I was sure | :01:38. | :01:43. | |
that somewhere out there that was something that I could buy. The | :01:44. | :01:47. | |
reality is that there is nothing. I set out to change that. Our | :01:48. | :01:52. | |
technology reporter Dave Lee has tried this new gaming experience. | :01:53. | :02:05. | |
What is it like? I have tried it on and it is a fascinating thing. The | :02:06. | :02:11. | |
way it works is it is like goggles over your head and there are two | :02:12. | :02:16. | |
screens one for each eye. You are completely surrounded by this 3`D | :02:17. | :02:18. | |
worlds you can leave you can move your head up and around it if you | :02:19. | :02:22. | |
look down to your legs you can see your virtual legs and you can feel | :02:23. | :02:27. | |
like you're within a game. For the last year, maybe two years, the | :02:28. | :02:31. | |
gaming industry has been very excited about this. One of the man | :02:32. | :02:38. | |
behind this is a guy called John Carmack who was behind the Doom | :02:39. | :02:43. | |
games. There is a lot of hope that this will be the next big step in | :02:44. | :02:49. | |
gaming. A good move on the part of Facebook? When you compare this | :02:50. | :02:57. | |
acquisition which it made for 19 billion, it seems like a steal. That | :02:58. | :03:04. | |
is how ridiculous it is getting? Shareholders will need to be | :03:05. | :03:08. | |
convinced again, when they? The interesting thing here is that it is | :03:09. | :03:13. | |
hardware, things that people go and buy. It is a tangible product, | :03:14. | :03:17. | |
unlike some of the applications that Facebook has. Will it appeal to the | :03:18. | :03:23. | |
masses or is it something that hard`core gamers will want? We have | :03:24. | :03:28. | |
been covering this is a gaming device but the statement by Mark | :03:29. | :03:32. | |
Zuckerberg suggested he was looking at it as a communications device. | :03:33. | :03:37. | |
One demonstration they used to do was in teleconference in. Rather | :03:38. | :03:40. | |
than an awkward WebCam chats that companies have with each other, this | :03:41. | :03:46. | |
could potentially give you an idea of feeling like you are in a room | :03:47. | :03:55. | |
with someone and hopefully this is a more natural chat experience. That | :03:56. | :04:07. | |
is the latest move by Facebook. The Candy Crush Saga is coming to | :04:08. | :04:10. | |
Wall Street. The games developer King has been valued at over $7 | :04:11. | :04:13. | |
billion dollars after it raised $500 million listing on the New York | :04:14. | :04:16. | |
Stock Exchange. It sold 22.2 million shares priced at $22.50 per share ` | :04:17. | :04:19. | |
the mid`point of the range the firm had initially set. All the attention | :04:20. | :04:26. | |
has some investors asking: Is the market for new shares in a bubble? | :04:27. | :04:29. | |
Michelle Fleury reports from New York. | :04:30. | :04:39. | |
Wall Street has regained its swagger. The stock market is | :04:40. | :04:42. | |
strong, the market to new stocks is on fire. When Candy crushed | :04:43. | :04:50. | |
developer King Entertainments such shelling shares, it will make | :04:51. | :04:56. | |
history. It will be one of Britain's most valuable companies on the | :04:57. | :05:02. | |
Internet. This fund manager says that investors are once again Suite | :05:03. | :05:07. | |
on initial public offerings. Were at 70% more in the number of IPOs this | :05:08. | :05:12. | |
year than last year. And last she was a record. We have not seen | :05:13. | :05:17. | |
records like this is the Internet bubble. Back then insatiable demand | :05:18. | :05:25. | |
for tech stocks put the NASDAQ to its highest level ever, then | :05:26. | :05:30. | |
crashing to earth. It is now looking a lot like that Internet bubble, | :05:31. | :05:33. | |
according to this professor of behavioural finance. We had 80% of | :05:34. | :05:40. | |
IPOs that were loss`making back then. Today we have close to 75% of | :05:41. | :05:47. | |
the most recent IPOs. It is not just a hot market, it is a ultra` hot | :05:48. | :05:52. | |
market if you compare it to the greatest bubble of all time. But the | :05:53. | :05:57. | |
trouble with bubbles, at least a financial kind, is that they are | :05:58. | :06:02. | |
hard to spot until they have burst. At this point, no one can tell if | :06:03. | :06:05. | |
the enthusiasm can you share offerings is a signal of market | :06:06. | :06:11. | |
strength or a danger sign. What is certain is that, lining up behind | :06:12. | :06:14. | |
the maker of Candy crushed, are many other companies hoping to make their | :06:15. | :06:22. | |
stock market debuts soon. Let's move away from the technology news. | :06:23. | :06:30. | |
As France rolls out the red carpet for China's leader President Xi | :06:31. | :06:34. | |
Jinping today, there's a strong sense that we're going to see the | :06:35. | :06:37. | |
signing of some blockbuster business deals. China and France have strong | :06:38. | :06:40. | |
diplomatic ties dating back over 50 years, France being the first | :06:41. | :06:43. | |
Western power to establish full diplomatic relations, paving the way | :06:44. | :06:45. | |
for Beijing's global acceptance. But why is France so important to China? | :06:46. | :06:49. | |
And why has the UK been missed off the list for this European tour? I'm | :06:50. | :06:55. | |
joined by Glen Macguire, Chief Economist, Asia Pacific, ANZ. | :06:56. | :07:09. | |
This day in France, there is a lot of pomp and circumstance surrounding | :07:10. | :07:13. | |
what will happen. What are you expecting in terms of deals? I think | :07:14. | :07:18. | |
there was a lot of symbolism around this trip. It is 50 years since | :07:19. | :07:24. | |
Charles de Gaulle broke ranks with the US and recognised Beijing. In | :07:25. | :07:29. | |
line with some of its symbolism, you may see a number of large contracts | :07:30. | :07:35. | |
signed. This is also reflecting the medium`term growth strategies China | :07:36. | :07:39. | |
has in place. It has already built itself out as a large manufacturer | :07:40. | :07:44. | |
of cheap, low value`added goods. What it did to the next stage of | :07:45. | :07:48. | |
evolution and development is to move up the production possibility | :07:49. | :07:53. | |
frontier to increases value and it will need to import a lot of that is | :07:54. | :07:58. | |
manufacturing technology and capital goods that economies like France | :07:59. | :08:03. | |
produce. They will be some large contracts signed on this trip, both | :08:04. | :08:08. | |
as a result of symbolism and out of economic necessity. What you make of | :08:09. | :08:14. | |
where the Chinese president has chosen to go on this trip `Germany, | :08:15. | :08:21. | |
the Netherlands, France. But not the UK, and yet London wants to be the | :08:22. | :08:25. | |
centre of trade for the Chinese currency. What you make of the | :08:26. | :08:31. | |
choice of destinations? It is important to focus this more on what | :08:32. | :08:37. | |
China needs in terms of its imports at this stage rather than what it | :08:38. | :08:39. | |
needs in terms of its financial development. It is interesting, when | :08:40. | :08:47. | |
you look at the type of goods China needs in this next phase of capital | :08:48. | :08:52. | |
deepening, the principal capital goods exporters are Japan, France, | :08:53. | :08:56. | |
and Germany. Given regional political difficulties, it is not | :08:57. | :09:02. | |
surprising that France only agenda. There is a trade imbalance there | :09:03. | :09:06. | |
already. Whereas Germany has a market penetration of around 5% of | :09:07. | :09:11. | |
Chinese imports, it is much lower for France around 1.3%. I would be | :09:12. | :09:16. | |
focusing more on that goods import dynamic, the types of technology | :09:17. | :09:20. | |
China is meeting at the moment. As we move closer to market | :09:21. | :09:25. | |
liberalisation and deregulation, that is when you will see more trips | :09:26. | :09:31. | |
to the UK and London and the acceleration of other cities around | :09:32. | :09:41. | |
the globe. Thank you very much indeed for your time. Here are the | :09:42. | :09:50. | |
markets frequently. `` very quickly. I will see you soon as we look | :09:51. | :10:10. | |
through the newspapers. Child neglect is now "rife" across | :10:11. | :10:29. | |
the UK according to new research commissioned by a leading charity. | :10:30. | :10:32. | |
Action For Children says one in ten youngsters suffer neglect, which | :10:33. | :10:34. | |
could mean being absent from school, missing health appointments, being | :10:35. | :10:40. | |
left alone or getting insufficient food. Jeremy Cooke | :10:41. | :10:41. |