Browse content similar to 05/08/2014. Check below for episodes and series from the same categories and more!
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forces fighting Sunni militants in the north. Nouri Al`Maliki made the | :00:00. | :00:00. | |
promise after the Islamic State group made strategic gains in | :00:00. | :00:00. | |
northern Iraq. Those are the latest headlines from BBC World News. | :00:00. | :00:08. | |
Now for the latest financial news and World Business Report. | :00:09. | :00:22. | |
American companies hope to get a foothold into some of Africa's | :00:23. | :00:26. | |
booming economies on day two of the US`Africa summit. | :00:27. | :00:29. | |
Daily deals that fail to excite ` investors say Groupon is an | :00:30. | :00:31. | |
over`hyped internet offering. Can the company change its image? | :00:32. | :00:46. | |
Welcome to World Business Report. President Obama's first ever | :00:47. | :00:48. | |
US`Africa summit is under way and today, American companies are hoping | :00:49. | :00:51. | |
to clinch deals with the 45 African heads of state and government, who | :00:52. | :00:59. | |
are gathered in Washington. With his eye fixed on his legacy, the first | :01:00. | :01:02. | |
African`American president is keen to show his commitment to the | :01:03. | :01:05. | |
continent but less than 1% of America's investment overseas | :01:06. | :01:13. | |
currently goes to Africa. From Johannesburg, Adrienne Murray | :01:14. | :01:20. | |
reports. Home to fast`growing economies and a | :01:21. | :01:25. | |
rising consumer class, Africa's markets are an opportunity the | :01:26. | :01:30. | |
company is hungry to invest, not least from the US. Over 14 years, | :01:31. | :01:43. | |
African growth and opportunity has given `` over 14 years, US`Africa | :01:44. | :01:52. | |
legislation has seen sub`Saharan African companies granted duty`free | :01:53. | :02:01. | |
access to American markets. The agreement expires soon. Most of the | :02:02. | :02:09. | |
trade has been in energy. In that regard, it is not really a success | :02:10. | :02:13. | |
story because trade would have taken place anyway. Exporting clothing, | :02:14. | :02:22. | |
however, has done better. Is China rather than America that has done | :02:23. | :02:25. | |
the most to transform Africa over the past decade, building | :02:26. | :02:29. | |
infrastructure projects like roads, rail and this new airport terminal | :02:30. | :02:34. | |
in Nairobi. The White House says this week's summit is not a blatant | :02:35. | :02:39. | |
response to growing Chinese influence on the African continent. | :02:40. | :02:45. | |
Looking at the figures, while China leads when it comes to trade, the US | :02:46. | :02:49. | |
is a hit in terms of foreign investment. In 2012, American | :02:50. | :02:55. | |
companies invested $31 billion in sub`Saharan Africa. French companies | :02:56. | :03:03. | |
also invested $31 billion. The UK invested $25 billion. China invested | :03:04. | :03:10. | |
only $18 billion. The US has been in Africa for a long time. We are | :03:11. | :03:15. | |
talking about Nigeria, Angola and South Africa. And in very few | :03:16. | :03:22. | |
sectors, like oil. China is the new kid on the block, if I may say. Most | :03:23. | :03:27. | |
of the growth in Africa comes from China. China is the largest | :03:28. | :03:34. | |
bilateral trade partner. President Obama is expected to use the summit | :03:35. | :03:38. | |
to voice American concerns on security, governance and human | :03:39. | :03:44. | |
rights. But increasing trade ties will be at the heart of the talks. | :03:45. | :03:55. | |
We are keeping an eye on that summit, updating you when those | :03:56. | :04:05. | |
announcements are made. The daily deals service Groupon is releasing | :04:06. | :04:07. | |
its second`quarter results. The stock has greatly underperformed | :04:08. | :04:10. | |
over the past six months and some investors are sceptical of its | :04:11. | :04:13. | |
turnaround story and are writing off Groupon as another over`hyped | :04:14. | :04:24. | |
internet name. The market is competitive but Groupon is | :04:25. | :04:28. | |
diversifying in an attempt to get ahead again. With me is Claudio | :04:29. | :04:37. | |
Alvarez, director at GP Bullhound. What will they tell us today? | :04:38. | :04:42. | |
Investors are probably looking for revenue to grow around 25%, 26%, | :04:43. | :04:51. | |
which is around $760 million. In particular, they are looking for | :04:52. | :04:55. | |
three things. First, an update on how North America is doing, | :04:56. | :05:02. | |
Groupon's most competitive market. There will be results from Amazon, | :05:03. | :05:05. | |
Google and local players. Second, what is happening to gross margins. | :05:06. | :05:12. | |
As they transition from a push to all model, Groupon is having to | :05:13. | :05:18. | |
resort to advertising to bring traffic. And third, how is growth in | :05:19. | :05:27. | |
the international market happening. Investors will be looking to get an | :05:28. | :05:31. | |
update on that, to see where growth is coming from. They have a lot of | :05:32. | :05:36. | |
ground to make up. They floated at $20? Yes. As of yesterday, their | :05:37. | :05:47. | |
market cap was around $4 billion. The shares were recently $5 each? | :05:48. | :05:55. | |
That is a huge fall. Correct. And many people have said that if they | :05:56. | :06:00. | |
had sold the business when they were offered $6 billion... You know, | :06:01. | :06:11. | |
history is always... Will Groupon be around in five years? They have been | :06:12. | :06:16. | |
buying up other companies to try to diversify. Will that be good enough? | :06:17. | :06:22. | |
This is a difficult task for the management that they have ahead of | :06:23. | :06:26. | |
them and it is still early days. They have only been there for 18 | :06:27. | :06:30. | |
months or so, reorganising the business away from local daily deals | :06:31. | :06:35. | |
and more into commerce and business to business propositions. It is | :06:36. | :06:40. | |
still early days but in the end, you have to believe that if they can | :06:41. | :06:45. | |
show some profits, the over 50 million subscribers and at users | :06:46. | :06:49. | |
will be of value for someone. Perhaps it will not be a stand`alone | :06:50. | :06:55. | |
business but that user base will still be around. Thank you. | :06:56. | :07:07. | |
Indonesia has been one of Asia's best` performing markets this year. | :07:08. | :07:10. | |
Its stock market has risen 25% while its currency, the rupiah, has also | :07:11. | :07:15. | |
strengthened by more than 5%. And now, it is set to deliver its | :07:16. | :07:18. | |
second`quarter growth figures for the year. Rico Hizon is in | :07:19. | :07:28. | |
Singapore. Rico, what are we expecting? The numbers just came out | :07:29. | :07:39. | |
minutes ago. And a big disappointment indeed. Growth in the | :07:40. | :07:44. | |
last three months to June has come in at 5.12% and it was the | :07:45. | :07:50. | |
country's worst performance in more than five years. The forecast was | :07:51. | :07:57. | |
for a 5.3% expansion. This increase in consumer spending linked to the | :07:58. | :08:00. | |
country's presidential election has not helped at all. The economy | :08:01. | :08:05. | |
continues to slow because of this ban on shipments of mineral ores and | :08:06. | :08:10. | |
high interest rates. In the first three months of the year, growth was | :08:11. | :08:16. | |
already at its slowest pace since 2009. If you look at Indonesia, | :08:17. | :08:22. | |
South East Asia's largest economy, it has a population of 250 million | :08:23. | :08:30. | |
people. With growth at 5% or more, we have the President`elect Joko | :08:31. | :08:33. | |
Widodo, wanting to get the annual growth rate up to 7% in two years. | :08:34. | :08:39. | |
He faces some major challenges. First, abolishing subsidies for | :08:40. | :08:48. | |
fuel, as well as other issues like poor infrastructure, declining | :08:49. | :08:51. | |
foreign investment and rampant corruption. A lot of | :08:52. | :08:56. | |
responsibilities to deal with during his five`year term. Thank you. | :08:57. | :09:04. | |
Shares in the world's biggest pork supplier, China's WH Group, made its | :09:05. | :09:07. | |
trading debut in Hong Kong today. Shares are sitting at about $6.70 in | :09:08. | :09:10. | |
early trade, up from the offer price of $6.20. The firm reportedly raised | :09:11. | :09:14. | |
more than US$2 billion in one of the biggest public offerings in Asia so | :09:15. | :09:26. | |
far this year. The World Bank has announced that it is allocating $200 | :09:27. | :09:29. | |
million in emergency assistance to help West African countries contain | :09:30. | :09:31. | |
the Ebola outbreak. The money will be distributed to the governments of | :09:32. | :09:34. | |
Liberia, Sierra Leone and Guinea as well as to the World Health | :09:35. | :09:37. | |
Organisation. The number of people killed in the outbreak has reached | :09:38. | :09:49. | |
887, according to the WHO. It has not been a week of that much | :09:50. | :09:54. | |
excitement so far in the markets. Japan are down by 0.3%. This is how | :09:55. | :10:02. | |
things finished off in the US. That's all from me for now. I will | :10:03. | :10:09. | |
be back later to look at the papers. | :10:10. | :10:25. | |
An investigation is under way after the parents of a murder victim heard | :10:26. | :10:28. | |
a judge questioning the significance of personal statements given by | :10:29. | :10:31. | |
bereaved families. Judge Graham White made the remarks after | :10:32. | :10:33. | |
Geraldine and Peter McGinty had read their statement by video link at a | :10:34. | :10:37. | |
hearing to decide whether one of their son's killers should be moved | :10:38. | :10:39. | |
to an open | :10:40. | :10:40. |