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for minor injuries. Those are the latest headlines from BBC World | :00:00. | :00:00. | |
News. Now for the latest financial news with Sally. | :00:00. | :00:17. | |
Eyeing Alibaba ` every big bank wants a piece of this latest market | :00:18. | :00:21. | |
floatation that's set to be the biggest technology listing since | :00:22. | :00:25. | |
Facebook. And in the driving seat: China's | :00:26. | :00:28. | |
young urbanites are the new market force for global carmakers. | :00:29. | :00:36. | |
Welcome to World Business Report. I'm Sally Bundock. Also in the | :00:37. | :00:43. | |
programme a spending spree in Japan in March has caused a new economic | :00:44. | :00:50. | |
headache for Shinzo Abe. We'll have the details. | :00:51. | :00:53. | |
The huge Chinese Internet company Alibaba is preparing to file a | :00:54. | :00:55. | |
prospectus for its highly anticipated stock market debut in | :00:56. | :01:01. | |
the USA. When it happens, it'll be the largest American IPO since | :01:02. | :01:03. | |
Facebook back in 2012 and could attract nearly as much attention. | :01:04. | :01:11. | |
The company accounts for 80% of all Chinese online consumer shopping, | :01:12. | :01:14. | |
and last year it accounted for more transactions than Amazon and eBay | :01:15. | :01:15. | |
combined. Only last week another Chinese | :01:16. | :01:24. | |
internet firm, Weibo, launched on the US market ` so why are the | :01:25. | :01:28. | |
giants of Chinese tech so keen to come to market in the West now? | :01:29. | :01:41. | |
Samira Hussain is in New York. It was just last week when China's | :01:42. | :01:44. | |
equivalent to Twitter, Weibo made its debut here in New York. In that | :01:45. | :01:49. | |
first day of trading, the stock shot up 20%. The success of Weibo has | :01:50. | :01:56. | |
investors even more excited about Alibaba. Chinese e`commerce giant | :01:57. | :02:02. | |
has more sales and net income of both Amazon and eBay combined. It | :02:03. | :02:08. | |
China's largest Internet company and operate in the world 's largest | :02:09. | :02:13. | |
Internet market. Alibaba a council 80% of all Chinese online consumer | :02:14. | :02:19. | |
shopping. But why a Chinese companies choosing to list in New | :02:20. | :02:24. | |
York instead of Hong Kong? In the case of Alibaba, most of it has to | :02:25. | :02:29. | |
do with ownership structure. American rules allow for executives | :02:30. | :02:32. | |
to retain much more control of their company. Alibaba's successors have | :02:33. | :02:39. | |
even lifted some US companies. Yahoo! Has benefited a stake in | :02:40. | :02:46. | |
Alibaba and it's really been boosting Yahoo! 's share which have | :02:47. | :02:51. | |
run up by more than 40% this year. It is all the more reason why many | :02:52. | :02:55. | |
more investors will be watching how Alibaba does in the coming months. | :02:56. | :03:00. | |
Beijing's annual auto show has opened with foreign brands unveiling | :03:01. | :03:03. | |
dozens of new models and concept cars, all eager to get a bite of the | :03:04. | :03:09. | |
rapidly expanding Chinese market. Last year, sales in China rose to | :03:10. | :03:14. | |
just under 18 million vehicles. Now as Melanie Wray reports, car makers | :03:15. | :03:17. | |
from Europe, America, Japan and Korea with more advanced | :03:18. | :03:19. | |
technologies than the domestic market have moved to the fast lane | :03:20. | :03:21. | |
to appeal to local tastes. Global carmakers are gearing up to | :03:22. | :03:35. | |
meet the demands of China's young urban professionals. They want a | :03:36. | :03:39. | |
vehicle that will let them stand out but not a top end model. That's why | :03:40. | :03:44. | |
it China's annual auto shows in Beijing and Shanghai have grown into | :03:45. | :03:49. | |
the industry 's most important commercial events. Notably strong | :03:50. | :03:54. | |
Chinese sales helped to support the global industry while the United | :03:55. | :03:59. | |
States, Europe slumped following the 2008 financial crisis. This year, | :04:00. | :04:07. | |
Ford unveiled a new sedan. Designed in China for global sale. This | :04:08. | :04:13. | |
compact model was designed with features to appeal to local tastes. | :04:14. | :04:16. | |
They include a bigger backseat for children and grandparents, brighter | :04:17. | :04:22. | |
colours and cupholders to fit iced tea bottles. It goes on sale in | :04:23. | :04:26. | |
China this year, expanding later to other markets. Wheeze the best ideas | :04:27. | :04:33. | |
from around the world. It is amazing how what people want and value is | :04:34. | :04:39. | |
similar around the world. They want to be able to handle their | :04:40. | :04:45. | |
families. I think this is going to be a preferred vehicle around the | :04:46. | :04:49. | |
world. It was really led by Chinese taste. But these foreign brands | :04:50. | :04:55. | |
piling into China are adding to the intense competition. Domestic brands | :04:56. | :04:59. | |
have been slowly losing market share. TRANSLATION: About five years | :05:00. | :05:05. | |
ago, the main foreign carmakers in China start to roll out products | :05:06. | :05:12. | |
that range between 9000 and 60,000 US dollars. A cheaper price poses | :05:13. | :05:21. | |
competition for Chinese domestic carmakers because foreign brands | :05:22. | :05:24. | |
have a better reputation. It estimated that China is car demand | :05:25. | :05:30. | |
is likely to reach 2.7 million cars a year by 2020. Which would make it | :05:31. | :05:35. | |
the world 's biggest premium car market, ahead of the US. If this | :05:36. | :05:39. | |
show is anything to go by, it looks like China will pay a big role in | :05:40. | :05:44. | |
designing future vehicles. Not just for them but also the world. | :05:45. | :05:51. | |
We will be discussing that story further we look at today's | :05:52. | :05:54. | |
newspapers. But now, let's talk about Japan. The task of steering | :05:55. | :05:56. | |
the Japanese economy back to a health is getting tougher for Prime | :05:57. | :05:59. | |
Minister Shinzo Abe. The latest trade figures show the growth in | :06:00. | :06:02. | |
shipments of goods overseas is marginal and yet there was a big | :06:03. | :06:06. | |
spike in imports in the month of March. But was this down to a | :06:07. | :06:12. | |
spending spree ahead of the rise in sales tax there in April. Sharanjit | :06:13. | :06:16. | |
Leyl is in our Asia business hub in Singapore. Nice to see you. Tell us | :06:17. | :06:23. | |
more about what is going on in Japan. As he said, a slight rise in | :06:24. | :06:31. | |
exports but huge rises in imports making the deficit basically | :06:32. | :06:36. | |
quadrupling from last year. Partially to do with that sales | :06:37. | :06:40. | |
hike. But more to do with the ongoing problems around increased | :06:41. | :06:46. | |
energy imports. The deficit quadrupling in March and export | :06:47. | :06:49. | |
growth slowing along with this rise in imports, the week Japanese | :06:50. | :06:56. | |
currency. Hugely Djibouti do that as well, pushing up the cost of those | :06:57. | :06:59. | |
imports. The deficit at Shelly Rudman to $14 billion. Japan's | :07:00. | :07:03. | |
energy imports have been rising after it shut all of its nuclear | :07:04. | :07:07. | |
reactors in the aftermath of the earthquake and tsunami in 2011. | :07:08. | :07:12. | |
According to the latest trade data, imports have liquefied and are | :07:13. | :07:20. | |
rising. Japan is having to pay a lot more for those imports after | :07:21. | :07:25. | |
aggressive policy move is aimed at spurring economic growth. Including | :07:26. | :07:30. | |
a huge group to the country 's money supply. The Japanese currency has | :07:31. | :07:38. | |
fell `` fallen nearly 10% against the US currency. That surge in | :07:39. | :07:46. | |
consumer spending is also to blame. Some Alice are saying the tax | :07:47. | :07:49. | |
increase could have wanted companies to push their shipments to the local | :07:50. | :07:53. | |
market to take advantage of buying spree before that tax rise took | :07:54. | :07:59. | |
place. There was also other data as well. Some of them showing | :08:00. | :08:03. | |
sluggishness in the corporate sector, demand for loans of Japanese | :08:04. | :08:08. | |
countries fell. Consumer confidence fell in March as well. Consumer | :08:09. | :08:16. | |
confidence actually much lower as well. Thank you very much. Let | :08:17. | :08:21. | |
squeeze in some other business stories. | :08:22. | :08:25. | |
A big foreign take over of British company could happen soon. The | :08:26. | :08:28. | |
financial press in the UK are reporting the American | :08:29. | :08:29. | |
pharmaceutical giant Pfizer has approached British rival AstraZeneca | :08:30. | :08:32. | |
with a $100 billion dollar takeover bid. The paper has cited senior | :08:33. | :08:34. | |
investment bankers and industry sources saying that informal | :08:35. | :08:37. | |
conversations about a deal had taken place between the two but that no | :08:38. | :08:40. | |
talks were currently under way after AstraZeneca resisted the approach. | :08:41. | :08:45. | |
Later this week US President Barack Obama heads to Asia, where trade | :08:46. | :08:50. | |
will feature prominently on his agenda. The United States is | :08:51. | :08:54. | |
negotiating a deal called the trans pacific partnership which would cut | :08:55. | :08:57. | |
barriers to doing business with a range of countries, including | :08:58. | :09:02. | |
Singapore and Japan. Breaking a US`Japan deadlock over access to | :09:03. | :09:05. | |
Japan's farm and auto markets is seen as key to finalizing the TPP. | :09:06. | :09:17. | |
Let's have a look at the markets. Today in Asia is a quiet day. | :09:18. | :09:22. | |
Globally, many markets are closed for a public holiday. In Europe and | :09:23. | :09:25. | |
western economies it is the long Easter break going on at the moment. | :09:26. | :09:32. | |
Japan open, Taiwan, South Korea. Hong Kong is not treating all that | :09:33. | :09:36. | |
Shanghai is trading. In Japan, that trade deficit story which our | :09:37. | :09:41. | |
correspondent in Singapore just mentioned. That has weakened yen to | :09:42. | :09:47. | |
a degree. That is all for me for now. I was used in when we review | :09:48. | :09:50. | |
the papers. New figures show that people are | :09:51. | :10:05. | |
five times more likely to get the most dangerous form of skin cancer | :10:06. | :10:10. | |
than they were in the 1970s. The dramatic rise is partly down to the | :10:11. | :10:14. | |
increasing popularity of package holidays and the wider availability | :10:15. | :10:16. | |
of sun | :10:17. | :10:17. |