15/04/2014 World Business Report


15/04/2014

Similar Content

Browse content similar to 15/04/2014. Check below for episodes and series from the same categories and more!

Transcript


LineFromTo

Those are the latest headlines from BBC World News. Now for the latest

:00:00.:00:00.

financial news here's Maryam Moshiri and World Business Report.

:00:00.:00:16.

Tech boom or tech kaboom? Is the technology bubble set to burst?

:00:17.:00:24.

Yahoo and Intel report earnings. High frequency and high risk `

:00:25.:00:27.

European Parliament prepares to back curbs on ultra`fast computerised

:00:28.:00:28.

share trading. Welcome to World Business Report.

:00:29.:00:40.

I'm Maryam Moshiri. In a minute we'll have a report on the movie

:00:41.:00:50.

business in Asia. But first we talk about tech shares. Last week shares

:00:51.:00:53.

in many of the world's biggest technology shares plunged. Some are

:00:54.:00:56.

now half the price they were at their peak a few months ago. The

:00:57.:00:59.

investor sell`off was sparked by fresh fears that a lot of these

:01:00.:01:02.

companies are over`valued and can never generate the profits expected

:01:03.:01:05.

of them. So are those fears founded? On Tuesday, search engine Yahoo and

:01:06.:01:09.

chip maker Intel report earnings. Michelle Fleury reports from New

:01:10.:01:18.

York. Over a year ago, this woman was

:01:19.:01:22.

brought in from Google to help turn Yahoo! Around. But investors may be

:01:23.:01:27.

more interested in what the company has to sack about its 21% stake in

:01:28.:01:34.

Aly Baba. Yahoo will provide investors into the company profits.

:01:35.:01:45.

They are having a difficult time finding a revenue growth. Minority

:01:46.:01:51.

investments provide more net income than the core business itself.

:01:52.:01:58.

Google continues to see its market share increase. Investors want to

:01:59.:02:04.

know, can it maintain its momentum? When this quarter get reported,

:02:05.:02:09.

there will be uneaten as in the numbers because they have split

:02:10.:02:14.

their stock, they are speaking out another company, there will be some

:02:15.:02:18.

confusion but the search is fantastic. For Intel the challenge

:02:19.:02:24.

is making the switch to smart phones. While the outlook for IBM

:02:25.:02:32.

may not be too rosy. This is where doubt hit. Last week, the market

:02:33.:02:39.

fell more than 3% with investors questioning whether they got the

:02:40.:02:42.

pricing right foot technology stocks, people will be watching

:02:43.:02:48.

these reports closely. They call it a flash crash ` a large

:02:49.:02:52.

and sudden swing in market prices that could even spark a wider

:02:53.:02:55.

financial crisis. The usual suspect is ultra`fast or high frequency,

:02:56.:02:57.

computerised trading in shares, bonds, currencies and other

:02:58.:03:02.

investments. European Parliament hopes it can head off that threat

:03:03.:03:06.

today by approving new curbs on the practice. Bill Blain is a strategist

:03:07.:03:15.

at the stock broker Mint Partners. Explained for our viewers in simple

:03:16.:03:22.

terms, what exactly is high`frequency trading? What happens

:03:23.:03:28.

is, stock markets take orders from all around the world. People

:03:29.:03:32.

telephone in all sent instructions by computer. We have now a system

:03:33.:03:40.

where the ultrahigh, fast traders have direct lines into these stock

:03:41.:03:47.

exchanges where the trade are actually close. What has been

:03:48.:03:52.

concerning the market is the sheer speed at which these guys are able

:03:53.:03:58.

to trade means they affect the bleak front run will stop in other words,

:03:59.:04:02.

they watch what other people are about to do and trade ahead of them.

:04:03.:04:07.

I heard it described as being able to put your bed on a roulette ball,

:04:08.:04:14.

the second you see where it is going to fall. If you know how other

:04:15.:04:18.

people are trading and you can trade ahead, that gives you an unfair

:04:19.:04:25.

advantage. What are the dangers? The impacts? We create the perception

:04:26.:04:33.

that the markets are brig. That is why this has become so important

:04:34.:04:42.

stop `` rigged. Michael Lewis published a book about

:04:43.:04:46.

high`frequency trading. It is getting all the attention. More

:04:47.:04:50.

important is the possibility that you might see something go wrong

:04:51.:04:55.

with the computer programmes that drive it. This is where your comment

:04:56.:05:03.

about Flash crash is important. If the algorithms go wrong, we can see

:05:04.:05:07.

the markets being hit by enormously wrong trade. We saw that two years

:05:08.:05:15.

ago with light securities. The results could run amok in the market

:05:16.:05:21.

and that is why people are keen to regulate this. The European

:05:22.:05:28.

government wants to cope this, is that possible? When we get new

:05:29.:05:35.

financial rules, players work their way around them. I am afraid that

:05:36.:05:44.

will happen again. Imagine being given free rein and a blank check to

:05:45.:05:48.

design and build a world class film studio. That was the job given to

:05:49.:05:51.

Australian Mike Lake, a veteran of the film industry with a career

:05:52.:05:54.

spanning four decades and three continents. Ashleigh Nghiem caught

:05:55.:05:57.

up with him at the Pinewood studios in Johor in southern Malaysia.

:05:58.:06:00.

If your ambition is to get into the film industry and you have the

:06:01.:06:03.

ability to think big, then this could be the job for you. Mike Lake

:06:04.:06:06.

designed and developed this complex and his job now is to bring in

:06:07.:06:11.

filmmakers from around the world. Welcome Pinewood Malaysia Studios.

:06:12.:06:15.

He was headhunted by the Malaysian government to turn the little city

:06:16.:06:18.

of Johor into a base for international film and television

:06:19.:06:24.

production. Blink and you could think you were in Hollywood. That is

:06:25.:06:28.

because Mike spent ten years there before moving to Malaysia. He

:06:29.:06:33.

started out in TV in Australia 40 years ago before working in

:06:34.:06:35.

production companies in ten countries. What we did in the early

:06:36.:06:44.

days while it was still jungle, we did all the designing and got all

:06:45.:06:48.

that right first. Then we went into the construction stage. We spent

:06:49.:06:51.

months and months. We cleared and moved something like one million

:06:52.:06:54.

cubic feet of earth. Mike's job is not about glitz and glamour. It is

:06:55.:06:57.

about hiring and managing all the staff needed to support filmmakers

:06:58.:07:12.

and their huge crews. They do a lot of local films just for Malaysia but

:07:13.:07:15.

they never really got into international production. The

:07:16.:07:19.

challenges are this is a unique. Mike is now overseeing the final

:07:20.:07:22.

stages of construction. He and his team have come a long way since the

:07:23.:07:26.

project started four years ago but they have been some low points when

:07:27.:07:29.

he had many burning questions. How do I bring the infrastructure that

:07:30.:07:32.

is required? How do I bring the labour that is required to service

:07:33.:07:36.

this it is a plan that may well pave the way for local talent to one day

:07:37.:07:48.

take over? He set up a training college. It is a plan that may well

:07:49.:07:52.

pave the way for local talent to one day take over.

:07:53.:08:06.

What has been happening on the markets? Some Asian shares are

:08:07.:08:16.

getting a break after this moderate railing in the US stocks. Japanese

:08:17.:08:22.

stocks are rebounding, led by exports. The weaker yen has the

:08:23.:08:29.

likes of Sony leading the way forward. Australia down slightly

:08:30.:08:36.

after the Reserve Bank has said they would keep interest rates steady.

:08:37.:08:42.

Looking ahead, investors will be watching closely to the Chinese GDP

:08:43.:08:51.

data. The economy is slowing. Also today, the US market watchers will

:08:52.:08:58.

be listening to Janet Yellen and what she has to say about the

:08:59.:09:07.

economy and interest rates. A quick look at some of the days other

:09:08.:09:16.

business News, raw materials for everything from mobile phones to

:09:17.:09:24.

jury reminds links to malicious. The court found they broke rules. US

:09:25.:09:30.

Airways has apologised about an image on its Twitter feed. The

:09:31.:09:37.

carrier said the image had been sent to its sister company America

:09:38.:09:40.

airlines and was inadvertently attached to the customer response.

:09:41.:09:56.

More than a million people could have had their personal data stolen

:09:57.:10:00.

after the UK's leading website for parents was

:10:01.:10:02.

Download Subtitles

SRT

ASS