Browse content similar to 16/05/2014. Check below for episodes and series from the same categories and more!
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will be his first visit to Chibok since the girls were taken by Boko | :00:00. | :00:00. | |
Haram militants last month. Those are the latest headlines from BBC | :00:00. | :00:00. | |
World News. Now for the latest financial news, with the World | :00:00. | :00:20. | |
Business Report. Top priority for the election winner: fixing India's | :00:21. | :00:23. | |
economy, as the country is currently going through its worst economic | :00:24. | :00:25. | |
crisis for two decades The conundrum of living on under $4,500 a month in | :00:26. | :00:35. | |
pricy Switzerland. Many say it doesn't go far enough, and are | :00:36. | :00:39. | |
calling for a minimum wage of $25 an hour. Welcome to World Business | :00:40. | :00:57. | |
Report. In a minute we'll have more on that controversial minimum wage | :00:58. | :01:00. | |
vote in Switzerland. But first: As we await the results of the Indian | :01:01. | :01:03. | |
election, people concerned about the economic slowdown are eager to find | :01:04. | :01:07. | |
out who will make up the next government. An indication of who is | :01:08. | :01:11. | |
leading should emerge shortly, with final results for all 543 | :01:12. | :01:14. | |
constituencies are expected in a few hours. 272 seats are needed for a | :01:15. | :01:20. | |
clear majority. The centre`right alliance led by Narendra Modi of the | :01:21. | :01:23. | |
opposition BJP party is projected to do well. But fewer than 200 seats | :01:24. | :01:29. | |
for the BJP and its allies would oblige them to seek additional | :01:30. | :01:34. | |
partners to form a government. But what do voters expect from the new | :01:35. | :01:39. | |
leaders? Yogita Limaye visited a family in Mumbai to find out. Hello. | :01:40. | :01:54. | |
These are a middle`class family in Mumbai, they have been actively | :01:55. | :01:58. | |
following the election. Politics has been a topic passionately discussed | :01:59. | :02:08. | |
and hotly debated in this household. Has there ever been this | :02:09. | :02:11. | |
level of anticipation among ordinary citizens? I have never seen this | :02:12. | :02:21. | |
kind of enthusiasm. This man runs a small factory on the outskirts of | :02:22. | :02:24. | |
the city. The economic slowdown has hit him hard, but he expects the | :02:25. | :02:30. | |
next government to make it easier to do business. I definitely expect a | :02:31. | :02:35. | |
better return in this financial year, with this government's | :02:36. | :02:42. | |
policies. That is the expectation we have. His wife has faced different | :02:43. | :02:50. | |
struggles. We add one or two potatoes. You are the person who | :02:51. | :02:55. | |
runs this house, eyes the food to feed the family. Have you seen your | :02:56. | :03:03. | |
budgets change over the past year `` buys the food. It just touched 63 | :03:04. | :03:13. | |
rupees per litre. So we have become miserly in spending, you could say. | :03:14. | :03:17. | |
She wants a government to stabilise food prices, if not ring them down | :03:18. | :03:22. | |
altogether. But this selection, a lot depends on how youngsters have | :03:23. | :03:29. | |
voted. Their son and his fiance are both under the age of 25. Both | :03:30. | :03:37. | |
first`time voters. I should feel proud when I say I am from India. If | :03:38. | :03:46. | |
it is India, India `based, it should not be looked down upon. Quality | :03:47. | :03:53. | |
should be assured. That depends on the image of the government. These | :03:54. | :03:59. | |
are pretty high expectations. So families like these will be watching | :04:00. | :04:02. | |
the new government closely, to see if they can fulfil the promises they | :04:03. | :04:08. | |
made to India's people during their election campaign. Lets get more on | :04:09. | :04:14. | |
this. Yogita Limaye joins me from Mumbai, and you are looking at | :04:15. | :04:18. | |
India's long`term potential growth. That's right, just to tell you, we | :04:19. | :04:24. | |
are at the stock market. Kind us, there is a crowd gathered looking at | :04:25. | :04:29. | |
both the market in the election result. We have heard them cheering | :04:30. | :04:34. | |
and clapping. Great levels of enthusiasm here in Mumbai. I don't | :04:35. | :04:38. | |
know if you can hear that. But with me is the head of a private equity | :04:39. | :04:44. | |
firm in India. Obviously we have watched the markets. How is | :04:45. | :04:49. | |
investment looking? It seems that BJP and Narendra Modi are leading. | :04:50. | :04:54. | |
They are looking at this quite positively. There have been many | :04:55. | :04:59. | |
challenges recently in India's investment environment, but Italy | :05:00. | :05:02. | |
private equity. A number of things have happened. Have turned their | :05:03. | :05:08. | |
attention to other markets. `` particularly private equity. The | :05:09. | :05:12. | |
investments they have made, much of it has not come to fruition. When | :05:13. | :05:22. | |
you ask them why that is, it tends to focus on the macroeconomic issues | :05:23. | :05:27. | |
and constraints in India, also the lack of clarity in policy`making. | :05:28. | :05:31. | |
The lack of clarity in issues like tax regimes, things of that nature. | :05:32. | :05:36. | |
What do they expect from the new government, whatever it is? It seems | :05:37. | :05:44. | |
like the BJP will be, and they have sold themselves as friendly to | :05:45. | :05:48. | |
business. Law what they would like to see, as I have said, is | :05:49. | :05:53. | |
significant headway on structural reforms. They would like to see the | :05:54. | :05:56. | |
government get more precise, and bring clarity in terms of tax | :05:57. | :06:04. | |
policy, in terms of FDI in different sectors, reviving investment in | :06:05. | :06:12. | |
India. So clarity in policy in particular. Most people hoping in | :06:13. | :06:18. | |
particular that whatever government comes with an outright majority so | :06:19. | :06:25. | |
they can take the decisions needed. Wonderful to hear that degree of | :06:26. | :06:28. | |
enthusiasm and excitement as people watched the market. I would like to | :06:29. | :06:33. | |
see that happen in London as well. Moving away from India. The people | :06:34. | :06:38. | |
of Switzerland are going to the polls this weekend to vote on | :06:39. | :06:41. | |
whether to introduce a minimum wage. Trades unions say the measure is | :06:42. | :06:44. | |
long overdue in such a wealthy country, but business leaders and | :06:45. | :06:46. | |
the Swiss government argue the amount proposed would destroy | :06:47. | :06:49. | |
businesses because it is far too high, at $25 an hour it would be the | :06:50. | :06:52. | |
world's highest, as Imogen Foulkes reports from Geneva. Thousands | :06:53. | :07:05. | |
demonstrating in Geneva and across Switzerland. These people are | :07:06. | :07:11. | |
demanding a minimum wage. Something many European countries, Britain, | :07:12. | :07:17. | |
France, Germany, already have. Swiss workers do not see why they should | :07:18. | :07:21. | |
be left out. They want a guaranteed minimum of 4000 francs, or $4500, a | :07:22. | :07:32. | |
month. TRANSLATION: The rent is higher, the health insurance is | :07:33. | :07:36. | |
expensive. Food is expensive. It is not possible to survive on less than | :07:37. | :07:43. | |
4000 francs a month. I am working 60 or 70 hours a week to reach that. | :07:44. | :07:48. | |
And even that in my opinion is barely enough. Switzerland is a very | :07:49. | :07:54. | |
wealthy country. But the gap between rich and poor is growing. Many | :07:55. | :07:58. | |
workers in big cities like Geneva or Zurich do find it hard to make ends | :07:59. | :08:10. | |
meet. A minimum wage of 4000 francs would be the highest in the world. | :08:11. | :08:19. | |
It is 18 euros or $25 an hour. Many worry that is too much, even in | :08:20. | :08:23. | |
Switzerland. The minimum would apply right across the country, in | :08:24. | :08:27. | |
low`priced rural areas as well. Business leaders say it cannot work. | :08:28. | :08:41. | |
I think it is an own goal for workers. Studies show that a minimum | :08:42. | :08:49. | |
wage can lead to unemployment and poverty, much more than it helps | :08:50. | :08:57. | |
people. For small companies, it would be problematic to afford such | :08:58. | :09:03. | |
a high salary. It is very high. 18 euros per hour. Latest opinion polls | :09:04. | :09:10. | |
show the quiet words of this must may persuade more voters than the | :09:11. | :09:17. | |
enthusiasm of the demonstrators. But even if the minimum wage is defeated | :09:18. | :09:23. | |
this time, the debate about fair pay in wealthy Switzerland is not going | :09:24. | :09:30. | |
away. Coming soon, a referendum on a guaranteed income from all Swiss, | :09:31. | :09:35. | |
whether they work or not. Time to check the markets. As we have heard, | :09:36. | :09:42. | |
India's stock market has jumped over 4%. Up to a record high on Friday. | :09:43. | :09:51. | |
That follows election results indicating Narendra Modi will become | :09:52. | :09:55. | |
the next Prime Minister. As we hear it, people in Mumbai cheering as | :09:56. | :10:02. | |
PCBs numbers. The view across the rest of Asia shows a downturn, | :10:03. | :10:20. | |
following the news from Wall Street. You are watching BBC News. | :10:21. | :10:24. |