:00:00. > :00:00.life. Those are the latest headlines. Now it is time for World
:00:00. > :00:22.Business Report. Brace yourself. One of the motor industry 's most
:00:23. > :00:27.iconic cars. It turns 50 to date and celebrating it birthday. The Ford
:00:28. > :00:32.Mustang opened the New York auto show. More than 1000 feet above the
:00:33. > :00:37.city. And France's newcomers that comes under fire after unveiling a
:00:38. > :00:46.benefit freeze. All part of a plan to cut government spending by $70
:00:47. > :00:53.billion. Hello everyone. Welcome to the
:00:54. > :00:56.programme. It is a fascinating and exciting snapshot of all the latest
:00:57. > :01:03.in the world of business and money. It is brief but good. We will also
:01:04. > :01:09.talk about Cambodian garment workers. They are striking and we
:01:10. > :01:13.will go live to our correspondent. With the Detroit and Geneva shows,
:01:14. > :01:18.they are behind us. The car industry 's attention is turning to the
:01:19. > :01:26.yorker the show. `` New York auto show. Ford revealed a special
:01:27. > :01:33.limited edition. To prove America's love affair with the car, Ford took
:01:34. > :01:40.it to new heights. Literally. Just have a look. We've got it. This is
:01:41. > :01:45.how they did it. How do they get a Mustang on top of the roof of the
:01:46. > :01:49.Empire State. They cut it up in five pieces, shoved it in elevated and
:01:50. > :01:59.assembled it late at night. This is exactly what they are doing. And
:02:00. > :02:02.they were very speedily. This is why the public viewing platform was
:02:03. > :02:08.closed. This is how they did it. Almost there. I don't think there is
:02:09. > :02:13.an engine in there but that is OK, it will not drive around. There we
:02:14. > :02:25.go! The 50th edition of the Ford Mustang. Before the whole... New
:02:26. > :02:30.York auto show, the CEO, he was in town to promote its latest model.
:02:31. > :02:35.Our correspondent caught up with him. She began by asking him, given
:02:36. > :02:43.Ford has three factories in Ukraine, she asked about what impact
:02:44. > :02:49.sanctions would have. Clearly we take the long view in
:02:50. > :02:51.Russia. We view it as an important market and potentially, in the next
:02:52. > :02:56.couple of years, could be the largest market in Europe. We do have
:02:57. > :03:04.three facilities there and are watching the situation very closely.
:03:05. > :03:08.Has there been any backlash? No. Actually, when you look at our
:03:09. > :03:12.business there, what impact it more is just the general economic
:03:13. > :03:17.performance of the economy there. We have had to match our reduction to
:03:18. > :03:23.demand that we have had to take some production out. Just looking at the
:03:24. > :03:29.business environment and reacting appropriately. We have not seen any
:03:30. > :03:33.backlash against our business. Where are most of the jobs being added?
:03:34. > :03:40.Yarmouk we will be adding 11,000 jobs around the world. 5000 of those
:03:41. > :03:45.jobs will be here in the US and the remaining 6000 will be in the
:03:46. > :03:49.Asia`Pacific. Europe has not been doing well but other regions are
:03:50. > :03:53.growing. How do you decide where to allocate resources? When you look at
:03:54. > :03:57.our footprint, the great news is the Ford business is growing around the
:03:58. > :04:04.world. When you look in our market share, we were going in every region
:04:05. > :04:07.of the world. Our approach as a company is to make sure we match
:04:08. > :04:15.capacity to demand. We have done that here in the US. We are exactly
:04:16. > :04:20.on plan on our transformation plan in Europe. We did have to close some
:04:21. > :04:23.facilities to match the demand to the production. We are starting to
:04:24. > :04:29.see the market comeback. Our shares are growing. I think we are
:04:30. > :04:38.satisfied there. Most of our capacity growth is in Asia`Pacific.
:04:39. > :04:44.There you go. From Hume, to this man. Manuel Valls, the new tough
:04:45. > :04:49.talking Prime Minister of France. He has been brought in to reform the
:04:50. > :04:52.economy. It certainly is needed. And at the same time, said his party. It
:04:53. > :04:59.is quite a challenge because an implement in France is now over 11%.
:05:00. > :05:02.It is an astonishing number. Growth is that in France and the debt
:05:03. > :05:07.continues to rise. Last week, the French and announced they would miss
:05:08. > :05:13.the deficit target they pledged to the rest of Europe. Manuel Valls,
:05:14. > :05:16.known as a social democrat is not popular with the left of his party.
:05:17. > :05:26.There have been angry reactions to the cuts he has put forward. They
:05:27. > :05:29.call him the French Tony Blair. A plain talking politician who tells
:05:30. > :05:34.his party in must change if it wants to survive. His appointment as Prime
:05:35. > :05:37.Minister suggests that Francois Hollande is serious about the new
:05:38. > :05:45.Veszpremi policy he announced in January. But can Manuel Valls sell
:05:46. > :05:50.it to the left wing of the party? He knows that the Prime Minister 's
:05:51. > :05:55.office is not a gift. It is a pain. Extremely painful and difficult.
:05:56. > :06:02.Particularly now. He knows what he is doing. It helps that Manuel Valls
:06:03. > :06:04.was formerly a spin doctor and while interior Minister, he had a
:06:05. > :06:10.reputation for delivering what he promised. The president does not
:06:11. > :06:14.have the same reputation. This is a big gamble for the president. In
:06:15. > :06:20.recent weeks, Francois Hollande's approval rating has fallen. While
:06:21. > :06:24.the rating of Manuel Valls is at a stratospheric 58%. It's as if, in
:06:25. > :06:28.the eyes of the French, the new Prime Minister is a real leader of
:06:29. > :06:34.France while Francois Hollande has been delegated to the rank of
:06:35. > :06:38.ceremonial president. Manuel Valls has no experience of running the
:06:39. > :06:42.economy but he is winning plaudits. In Berlin, he announced cuts of 50
:06:43. > :06:46.billion euros in gunmen spending over three years. And he has
:06:47. > :06:59.promised solutions to the soaring cost of French labour. You'll it has
:07:00. > :07:08.been extremely painful. It means that now there is such a gap that
:07:09. > :07:13.there are question marks, where will they go? Those on the left estate
:07:14. > :07:16.Manuel Valls should not be cutting spending and a time when growth is
:07:17. > :07:19.stagnant. The concessions he is offering to employers are dismissed
:07:20. > :07:27.as the policies of the right. The kind of reforms that could split the
:07:28. > :07:32.party. We are hoping for an extension of confidence. For each
:07:33. > :07:39.vote when we are not in agreement, we will vote against. So, Manuel
:07:40. > :07:45.Valls, will have to tread a delicate lime. His first test comes in a fume
:07:46. > :07:49.weeks when spending goes to wait Parliamentary vote of confidence.
:07:50. > :07:52.Manuel Valls may find he has left move `` room to manoeuvre. It might
:07:53. > :08:00.explain why Francois Hollande appointed him. He has a tough job.
:08:01. > :08:06.It took about trade unions in Cambodia. They are hoping as many as
:08:07. > :08:09.half of the country would he showing up to work starting from today.
:08:10. > :08:16.There's coffer in nationwide strike to demand a higher minimum wage and
:08:17. > :08:20.the release of 21 protesters who were imprisoned in the last round of
:08:21. > :08:24.strikes back in January. That go to the man himself in our Singapore
:08:25. > :08:30.office. I don't get enough time to talk to you these days. Let me talk
:08:31. > :08:35.about this, we have talked about the problems facing the Bangladeshi
:08:36. > :08:41.garment workers. What are we seeing in Cambodia? Is this part of a wider
:08:42. > :08:46.movement in the region with what's going on with garment workers? If
:08:47. > :08:50.you look at Cambodia, it is just like a good bash. A major garment
:08:51. > :08:55.factory have. Groups say that workers there, just like Bangladesh,
:08:56. > :09:00.are underpaid. Thousands of garment workers are staying home as part of
:09:01. > :09:07.protest actions demanding higher salaries. Cambodian workers are
:09:08. > :09:11.demanding an increase in the minimum wage to 100 and 60 US dollars per
:09:12. > :09:16.month. Versus the current 100 US dollars. The organisation
:09:17. > :09:23.representing workers claimed none of the workers today are protesting but
:09:24. > :09:29.are just taking extra time of due to the New Year. One analyst said this
:09:30. > :09:33.strike is a litmus test on the strength of the unions. If they
:09:34. > :09:39.could follow through with these demands after the violence in
:09:40. > :09:47.January and saw the arrest of 21 demonstrators. Very briefly,
:09:48. > :09:54.investors... They jumped on the Weibo bandwagon yesterday? They did.
:09:55. > :09:59.It was up by 20%. There have been worries that the company 's
:10:00. > :10:05.performance would be affected by the recent sell`off of technology stocks
:10:06. > :10:13.and censorship. Traders say what makes Weibo attractive to investors
:10:14. > :10:25.is that it trades at a major discount to Twitter. Thank you.
:10:26. > :10:28.Treat me and follow me. I have got to go. I will be back shortly to
:10:29. > :10:44.take a look at the newspapers. I told you to brace yourself. Let's
:10:45. > :10:48.have a look at some UK stories. The two biggest teachers union in
:10:49. > :10:51.England and Wales are holding their annual conferences and both are
:10:52. > :10:53.likely to step up their campaign of industrial