Browse content similar to 07/05/2014. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
Those are the latest headlines from BBC World News. Now for the latest | :00:00. | :00:00. | |
financial news in World Business Report. | :00:00. | :00:16. | |
A new life for Fiat Chrysler. It could be the largest stock market | :00:17. | :00:28. | |
flotation ever. Ali Barber Mack files to offer shares on the New | :00:29. | :00:37. | |
York stock exchange. `` Ali ``Alibaba. CEO Sergio Marchionne | :00:38. | :00:41. | |
outlines his five`year plan and brings Alfa Romeo back to the US. | :00:42. | :00:46. | |
Welcome to World Business Report. I'm Sally Bundock. Also in the | :00:47. | :00:50. | |
programme: South Africans go to the polls today in a general election. | :00:51. | :00:53. | |
Our team there assesses the outlook for the economy. | :00:54. | :00:56. | |
It could be the largest share sale in history. Chinese internet giant | :00:57. | :01:02. | |
Alibaba has filed documents for a market floatation in New York and | :01:03. | :01:05. | |
analysts predict the company could raise more than $15 billion, topping | :01:06. | :01:11. | |
Facebook's initial public offering. Alibaba did not disclose details of | :01:12. | :01:14. | |
the number of shares it intends to sell or the price range, but the | :01:15. | :01:17. | |
euphoria is already in the markets with estimates of the e`tailer's | :01:18. | :01:20. | |
market value soaring to even beyond $200 billion. The difference is | :01:21. | :01:29. | |
Alibaba actually already makes profits and a lot of it. Last year | :01:30. | :01:35. | |
it raked in more money than its American peers Amazon and eBay | :01:36. | :01:41. | |
combined. Let's go to our Asian business hub | :01:42. | :01:50. | |
in Singapore. At last they have filed in New York. We can move onto | :01:51. | :01:56. | |
the next stage. Absolutely. We don't know the stock price or when it will | :01:57. | :02:03. | |
be launched, but the big issue was over the past several months, | :02:04. | :02:09. | |
whether Alibaba should be listing in New York or its home base, | :02:10. | :02:12. | |
particularly on the Hong Kong stock exchange. You have them listing in | :02:13. | :02:18. | |
New York after the exchange in Hong Kong was against the company's | :02:19. | :02:25. | |
proposed structure, which would have breached rules by allowing senior | :02:26. | :02:28. | |
executives to nominate the majority of the board. Among major | :02:29. | :02:32. | |
shareholders set to benefit from this initial public offering, US | :02:33. | :02:42. | |
technology giant Yahoo. They own a 22.6% stake in the firm. Alibaba | :02:43. | :02:53. | |
isn't well known outside mainland, where they have an 80% share of the | :02:54. | :02:57. | |
online retail market. It is best described as a mix of eBay, PayPal, | :02:58. | :03:03. | |
Amazon and Google. Many describe it as an 800 pound gorilla in China's | :03:04. | :03:11. | |
internet economy. That is a good way of as you say, we have heard of the | :03:12. | :03:17. | |
company, but we can't yet use the company in the UK, the US, | :03:18. | :03:23. | |
elsewhere. Will it take on Amazon outside mainland China? According to | :03:24. | :03:29. | |
analysts that could be a strategy going forward. Alibaba is trying to | :03:30. | :03:35. | |
make its presence felt by appealing to British and American companies | :03:36. | :03:41. | |
who are thirsting for a piece of China's growing population of | :03:42. | :03:46. | |
wealthy consumers. One of its major businesses is a shopping site and | :03:47. | :03:53. | |
has already lowered a number of British brands to open up | :03:54. | :03:57. | |
storefronts on its platform, including Burberry, Marks Spencer | :03:58. | :04:01. | |
and others. It has attracted famous names including Apple, Microsoft, | :04:02. | :04:10. | |
NIKKEI, Levi's and others. Being awash with cash, it is making major | :04:11. | :04:14. | |
investments with technology start`ups in the US ``Nike. A lot of | :04:15. | :04:25. | |
excitement about this. Sergio Marchionne will stay on as | :04:26. | :04:28. | |
boss of Fiat Chrysler for the next five years to oversee his new growth | :04:29. | :04:31. | |
plan. The carmaker wants to boost global sales by 59% by 2018. And its | :04:32. | :04:40. | |
relying on more brands to do it. These targets are part of its latest | :04:41. | :04:43. | |
five`year plan unveiled late on Tuesday. Michelle Fleury reports | :04:44. | :04:50. | |
from New York. Back in the 1920s, when Chrysler was | :04:51. | :04:53. | |
defining the American middle`class dream, they wouldn't have imagined a | :04:54. | :04:58. | |
future wedded to an Italian firm and its flamboyant boss. Here we are. | :04:59. | :05:05. | |
Sergio Machionne, the smooth talking chief executive of the merged Fiat | :05:06. | :05:08. | |
Chrysler and his plan to steer the company to the future now that has | :05:09. | :05:17. | |
repaid its government loans. Will I do is I think I know how to lead | :05:18. | :05:23. | |
people. Those we have here are phenomenal and they have done | :05:24. | :05:31. | |
extraordinary things. Alfa Romeo's re`entry into the US marked by a | :05:32. | :05:35. | |
recent appearance at this car show, is part of Sergio Machionne's effort | :05:36. | :05:41. | |
to make the brand more distinct. Efforts also include dropping the | :05:42. | :05:46. | |
minivan and investing $7 billion to add eight new models and built Jeeps | :05:47. | :05:51. | |
in China and Brazil. The strategy is to get greater global reach, global | :05:52. | :05:58. | |
scale, by taking existing brands and putting them into markets where they | :05:59. | :06:01. | |
don't already sell or art overly penetrated yet. To be a viable | :06:02. | :06:08. | |
global carmaker, they must raise sales to 7 million each year if it | :06:09. | :06:12. | |
is to compete with Toyota, GM and VW. Last year it saw sales of around | :06:13. | :06:18. | |
4 million cars `` are not overly penetrated yet. Sergio Machionne is | :06:19. | :06:23. | |
confident his plan will achieve the goal. Analysts say he has missed | :06:24. | :06:29. | |
targets before. The latest drive to transform the carmaker started with | :06:30. | :06:34. | |
a new sign unveiled at its Auburn Hills campus in Michigan. The real | :06:35. | :06:38. | |
test will be selling cars that make a profit. | :06:39. | :06:46. | |
As South Africans head to the polls on the 7th of May, the state of the | :06:47. | :06:50. | |
economy is something that many voters are concerned about. They | :06:51. | :06:52. | |
worry about bread and butter issues like jobs, better housing and access | :06:53. | :06:55. | |
to water. In the months leading up to the elections, there's been a | :06:56. | :06:59. | |
wave of protests in the poorer townships where most black people | :07:00. | :07:01. | |
live. These South Africans say that in 20 years of democracy, the | :07:02. | :07:04. | |
country has not delivered on the promises made in 1994. A better | :07:05. | :07:07. | |
performing economy could help to address some of these problems. | :07:08. | :07:10. | |
Lerato Mbele explores some of the issues in this crucial poll. | :07:11. | :07:16. | |
This is a picture of South Africa today. A wave of Rohtaks in the | :07:17. | :07:23. | |
poorest communities. The reasons, almost half the population live in. | :07:24. | :07:28. | |
`` protests. A quarter are unemployed and the economy is | :07:29. | :07:34. | |
growing at only 2%. It is the harsh reality that politicians must face | :07:35. | :07:38. | |
up to in this election. The election is taking place the economy of the | :07:39. | :07:44. | |
country has been slowing down for several years now. Unemployment is | :07:45. | :07:50. | |
high. There has been a lot of social unrest in the form of service | :07:51. | :07:54. | |
delivery protest in in the townships. There have been violent | :07:55. | :07:59. | |
industrial strikes. It has also been a well`publicised scandal around the | :08:00. | :08:04. | |
spend each of government money on the government compound. This has | :08:05. | :08:09. | |
caused outrage are amongst people of all walks of life `` | :08:10. | :08:16. | |
Spenditure. Opposition parties want to capitalise on these failures. | :08:17. | :08:26. | |
Ordinary people are also speaking out. There is a lot of improvement, | :08:27. | :08:35. | |
but I don't think we are benefiting anything, especially from the ruling | :08:36. | :08:39. | |
party. It is just about self`interest. I am hoping that | :08:40. | :08:43. | |
other parties get more representation in government, | :08:44. | :08:56. | |
because I feel the SNP in Parliament needs diversity to get somewhere. | :08:57. | :09:00. | |
This coming at a time when South Africa reflects on the successes and | :09:01. | :09:04. | |
failures of 20 years of democracy. The rise of government corruption | :09:05. | :09:10. | |
undermines these achievements. The African National Congress has been | :09:11. | :09:13. | |
in power since 1994. This is the party that was led by Nelson Mandela | :09:14. | :09:16. | |
and brought to an end of the repressive apartheid regime. Because | :09:17. | :09:22. | |
of the popularity of the ANC, they are expected to win the election. | :09:23. | :09:27. | |
The track record is however patchy. Some voters are willing to take a | :09:28. | :09:30. | |
stand against issues such as rising unemployment, poor quality of | :09:31. | :09:35. | |
education and an increase in government corruption. Our | :09:36. | :09:43. | |
correspondent from Johannesburg. These are the markets in Asia. A | :09:44. | :09:47. | |
rough session today. In Japan, we see the worst day for about four | :09:48. | :09:52. | |
weeks. The yen has strengthened versus the dollar. We have Janet | :09:53. | :09:57. | |
yelling answering questions today, which will be analysed all over the | :09:58. | :09:59. | |
world. `` Yelen. | :10:00. | :10:05. |