15/05/2014 World Business Report


15/05/2014

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fires in hot, dry and windy conditions. Those are the latest

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headlines from BBC World News. Now, for the latest financial news with

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Alice. Fast`food slow down as low income

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fast`food workers from 150 US cities and dozens of countries join in

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protest to call attention to wealth inequality. Japan's growth blows

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past forecast but will the glow last. Hello there. A very warm

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welcome to you. With me Alice. Just a moment we'll be live in Singapore

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talking about some important numbers that have come out of Japan

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recently. People clearly hitting the shops again there. But protestors in

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US continue to grow as low`wage workers demand an increase to the

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minimum wage. On Thursday, American fast`food workers will walk off

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their jobs in 150 cities. Similar protests are planned in cities all

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around the world. It's part of an effort to show unity against the

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growing income inequality in the States. Our correspondent reports

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from York New York, a city of glitz and glamour, if you have got cash,

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few other places are better than the Big Apple. But if you're only making

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$8 an hour, like many of these workers, living here isn't easy. New

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York has its stereotypes that we make so much money, we don't need

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it, we're spoiled, we really take advantage of the opportunities that

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we have here, but we are struggle here as well. Nowhere is the gap

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between rich and poor more clear than New York. Some are just

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scraping by. Others are making millions on Wall Street. But this is

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not just a New York problem. It's an American one. Between 1993...

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Average income growth for all Americans was 17. 9%. But... Compare

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that to the bottom 99% who only saw 6. 6% of income growth. Income

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inequality in America has reached such heights that people like Jese

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are trying to do their part to spread the wealth. I inherited money

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when I turned 21 from my grandparents, and I personally felt

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a disdense between gad grating the from college without debt and having

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a pot of money that I had personally not dope anything to earn. She has

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already given away two`thirds of her inheritance, and through the

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organisation she runs, she's showing others to do the same. But for those

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who don't have the benefit of an inherit tans or any money at all,

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moving up is tough. An a lot of people are stuck in a low financial

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rut, and this tends to last a good part of their lifetime. It's very

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hard for them to move up economically. Much of what makes the

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gap between rich and poor so vast is actually systemic, and until some of

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those issues are addressed, as time goes on, the disparity will get

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worse putting the quality of life of future generations into question.

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And you can see more on the world's growing wealth divide on Talking

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Business with Linda this Friday on BBC World News. Now, Japan's economy

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grew at the fastest pace in nearly three years in the first quarter due

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to an increase in spending. Official dat yes showed that the GDP grows

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somewhat 1. 5% in the January period. 0. 1% of the prior quarter

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with a figure beat forecasters with 1% growth and was led by a rise in

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consumer spending up by 2. 1%. Our correspondent joins us live now.

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Good to see you, Rico. The bottom`line was Japanese consumers

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were spending. They went on a shopping spree buying cars. They

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took to shopping malls to purchase banlts, appliances, furniture,

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clothes, just anything they could afford before the consumption tax

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was raised on the 1 April. Alice, con susms was indeed a major

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catalyst before the sales tax was raised from 5 to 8%. New investment

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by businesses also gave the economy a major lift. Well, gift credit as

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`` give credit to the Japanese prime minister. It has helped the economy

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grow father, but concerns remain whether this recovery is durable. We

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speak to economists, they warning spending may slow down now that the

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April tax hike has been introduced and they say where the con susms tax

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now at 8%, the bottom`line is it will make a whole lot of things more

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expensive. So we're expecting this will slow down the economy this

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quarter. Thanks. Now, launching a new Smartphone in one of the world's

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most populous nations is always a challenge. Motorola is venturing

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into tough territory in India as it launches a new Smartphone. We met up

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with the corporate Vice President in the Asia pacific and asked him why

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the phone would work in India. One thing that we have seen is that the

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great or high quality mobile Internet experience hasn't been

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available to a lot of people around the world. So we're starting to

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welcome a lot of people who are currently on a phone, po tern

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usually poor Smartphone experience and join Motorola. India is a highly

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competitive market. If you get your price point right, the rewards are

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huge, but also things can go wrong very easily here. So what do you

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expect with your new launch? I think every international vendor is here

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as well. So obviously very exciting marketplace. We have enjoyed

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tremendous success over the last three months. And I think that is

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because we have a very clear strategy. We try to focus on

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android, very simple, very fast devices. And also make devices that

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keep better `` keep getting better all the time. If we continue to do

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that, we bring those to the consumer at attractive price points, we can

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be extremely successful. You have recently changed ownership, you're

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now a Chinese company. What's it like to operate them? We're h not

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the Chinese business yet, the acquisition will be finalised

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hopefully later this year, so we continue to operate as two separate

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companies. I'm excited, and I think the entire Motorola team is excited

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because we have built a lot of momentum in Motorola over the last

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12 months in terms of our comeback to the market and I think company

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has made it clear. The brand is very important reason, and the

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engineering and the people. How easy is it continue to innovate if your

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ownership keeps changes? The team is the same. I think the Motorola focus

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is where we'll look at our engineers. We're trying to address

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the key in the most critical consumer pinpoints and try to give

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an experience to the consumer than is better than anybody else. That

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doesn't change. What this enables us now, we'll get the better reach on a

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global level. Talking to the corporate Vice President of Motorola

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Asia pacific region. Look at other news now ` striking mines ` a

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reported to be `` strikers of mines are refusing to return to work in

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South Africa's platinum belt. Works have gotten together in the

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north`west trying to break a month's long strike. The cessation of mine

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workers says it's telling strikers to remain steadfast and be peaceful.

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Britain's Finance Minister has again insisted that a currency union after

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Scottish independence will not work and has been ruled out. That this

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would only happen if the UK stayed together. Time new to look at how

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Asian markets are getting on. For the most part, stocks have drifted

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lower on Thursday's robust growth. Japan was off set by US markets

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pulling back from record levels. Although we can see there the hang

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senge in Hong Kong actually in positive territory. OK, from me and

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the team that's all for this hour, if you like to get in touch. I'm at

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BBC World News. I will be back to look at the papers in just a moment.

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We may read the words of austin, dic Kens from a book, but the original

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manuscripts are usually locked out. Well, that's about to change. With

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the British library

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