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proposing to take control of the country. Those are the latest | :00:00. | :00:00. | |
headlines from BBC One news now for the latest financial news, Aaron | :00:00. | :00:00. | |
Heslehurst with World Business Report `` BBC World News. | :00:07. | :00:19. | |
It's a complete overhaul for a very troubled airline, Malaysia plans to | :00:20. | :00:25. | |
delist its national carrier from the stock exchange, making it fully | :00:26. | :00:32. | |
state`owned. And the trial begins in China they corporate investigator | :00:33. | :00:40. | |
and his wife `` they. We look at the new climate in China `` of a. | :00:41. | :00:50. | |
Hello, everyone. Welcome to the programme. A fascinating and | :00:51. | :00:53. | |
exciting snapshot of all the latest in the world business and money. We | :00:54. | :00:57. | |
will look at the future of Wikipedia shortly and the big Chinese | :00:58. | :01:02. | |
corporate crackdown. But first Malaysian's state investment firm | :01:03. | :01:06. | |
has proposed a complete overhaul of the troubled national carrier, | :01:07. | :01:10. | |
Malaysian Airlines. They want to buy the shares it already doesn't own in | :01:11. | :01:14. | |
the carrier, and then delist it and take it off the stock exchange. Why | :01:15. | :01:19. | |
has this happened? It's because the airline has been hurt two major | :01:20. | :01:34. | |
tragedies, the crash of MH17 in Ukraine and the disappearance of | :01:35. | :01:37. | |
MH370, all of this in recent months. The incidents have triggered | :01:38. | :01:38. | |
concerns about the line's future. They say they will purchase all | :01:39. | :01:41. | |
minority shares in the flag carrier and finance a restructuring plan by | :01:42. | :01:45. | |
the end of the month. Great to see you. It is a complete overhaul for a | :01:46. | :01:49. | |
troubled airline, but let's be frank, this was an airline that was | :01:50. | :01:53. | |
in serious trouble before these two tragedies. Am saying, in terms of | :01:54. | :01:57. | |
financial performance, it was one of the worst in the industry `` some | :01:58. | :02:03. | |
are saying. Bleeding is how many people put it. Given that this is in | :02:04. | :02:08. | |
many ways what the market has been expecting. They were in trouble long | :02:09. | :02:14. | |
before the MH17 and MH370 tragedies, they need a big capital | :02:15. | :02:18. | |
injection. Obviously this has been one of the options for the | :02:19. | :02:22. | |
government to buy the entire airline and try and save it. Once they are | :02:23. | :02:29. | |
delisted, it paved the way for a restructure to a certain extent out | :02:30. | :02:34. | |
of the public eye. They have had five straight quarters of losses. | :02:35. | :02:37. | |
Analysts are saying, their next results, due on August 20, could be | :02:38. | :02:42. | |
their worst quarter ever stop it now we do have them saying it would not | :02:43. | :02:47. | |
only review it, we knew they were going to do that, but now they are | :02:48. | :02:52. | |
going to 100% and the complete overhaul will look at every aspect | :02:53. | :02:57. | |
of the airline's operation. They have looked at the business model, | :02:58. | :03:01. | |
finances, human capital and the regulatory environment. They haven't | :03:02. | :03:05. | |
talked about brand and whether or not they will rebrand Malaysian | :03:06. | :03:09. | |
Airlines, that's also been the subject of a lot of speculation. | :03:10. | :03:14. | |
Ordinary shareholders will get a 12.5% premium to the last closing | :03:15. | :03:18. | |
price, but this is really just the first page of the restructuring. | :03:19. | :03:22. | |
They will be a lot more detail to come `` first stage. And we will | :03:23. | :03:26. | |
hear from the unions as well. Getting the unions, who represent | :03:27. | :03:31. | |
around half of the line's 20,000 workers on side, getting their | :03:32. | :03:36. | |
support will be crucial. Just to be clear for a moment, perhaps viewers | :03:37. | :03:39. | |
around the world who don't follow this kind of thing, de`listing, | :03:40. | :03:43. | |
getting away from the stock exchange gets the shareholders of Macnair | :03:44. | :03:46. | |
back so they can get the tough work done. At the end of the day, when | :03:47. | :03:52. | |
this restructuring takes place, we will see a smaller carrier no doubt | :03:53. | :03:56. | |
`` shareholders of Macnair back. Perhaps. You can look at airlines in | :03:57. | :04:01. | |
the past that have been delisted and listed again, Japan is one example. | :04:02. | :04:06. | |
It is dependent on which way they decide to go. In a statement they | :04:07. | :04:10. | |
talk about the importance of Malaysian Airlines continuing as a | :04:11. | :04:13. | |
national entity. We will have to wait and see. It's not out of the | :04:14. | :04:18. | |
question may delist and eventually when they restructure comeback | :04:19. | :04:20. | |
again. They could relist. Thanks very much. . How about this one? | :04:21. | :04:28. | |
Contributors to the online encyclopaedia Wikipedia are | :04:29. | :04:30. | |
descending on London this weekend for their annual gathering dubbed | :04:31. | :04:40. | |
Tim Mack one it is including `` Tim Mack one. Despite more than 30 | :04:41. | :04:45. | |
million pages of information ranging from everything, from the mundane to | :04:46. | :04:51. | |
the controversial, the free online encyclopaedia faces significant | :04:52. | :04:54. | |
challenges. Most importantly expanding foreign language versions | :04:55. | :04:58. | |
and having a more diverse group of writers, so Wikipedia and is. We | :04:59. | :05:05. | |
asked Wikipedia's founder, Jimmy Wales, if he is concerned that the | :05:06. | :05:10. | |
majority of contributors are Western men. It is mainly men, I wouldn't | :05:11. | :05:15. | |
say Weston, Chinese Wikipedia is full of Chinese people. `` Western. | :05:16. | :05:20. | |
It does tend to be men, it does tend to be tech savvy men, or tech savvy | :05:21. | :05:27. | |
people generally, most of whom end up being men for various reasons. We | :05:28. | :05:32. | |
really want to expand the community and diversify the community because | :05:33. | :05:38. | |
we know it helps lead to quality in other areas. You did set a goal, | :05:39. | :05:43. | |
though, for yourselves of increasing the number of women participants to | :05:44. | :05:48. | |
25% by 2015, but more a long way from that target. The goal was to do | :05:49. | :05:53. | |
that by 2015 and we've completely failed. That's a target we set for | :05:54. | :05:58. | |
ourselves and we're really doubling down our efforts now, we realise we | :05:59. | :06:03. | |
didn't do enough. There's a lot of things that need to happen to help | :06:04. | :06:07. | |
improve that, to get from around 10% to around 25%. A lot of outreach and | :06:08. | :06:14. | |
a lot of software changes. It's a big job. Another issue has been the | :06:15. | :06:20. | |
imbalance in the articles on Wikipedia. For example, one critic | :06:21. | :06:25. | |
saying there were more articles on Lord of the Rings than there were on | :06:26. | :06:29. | |
sub Saharan Africa. How worried are you about that? I suspect numbers | :06:30. | :06:33. | |
like that can be misleading and the counts can be wrong and so forth. We | :06:34. | :06:37. | |
think there are imbalances in the content. Some of that we don't worry | :06:38. | :06:43. | |
too much about, if we have to many articles about Pokemon, that's OK,, | :06:44. | :06:48. | |
, because I'm not sure we want to redirect the people writing about | :06:49. | :06:51. | |
Pokemon to write about health issues. But it points to a need to | :06:52. | :06:57. | |
ring in new editors to diversify and make sure we have good coverage of | :06:58. | :07:02. | |
everything. `` bring in. A British businessman and his American wife | :07:03. | :07:05. | |
are in court in Shanghai charged with illegally illegally gathering | :07:06. | :07:12. | |
personal information on Chinese citizens. They had been working with | :07:13. | :07:17. | |
Glaxo Smith Kline to identify a whistleblower within the company who | :07:18. | :07:20. | |
had accused Glaxo Smith Kline of bribing Chinese hospitals and | :07:21. | :07:26. | |
hospitals. It coincides with the Chinese government's (. Some of the | :07:27. | :07:30. | |
world's most powerful brands are being investigated by the Chinese | :07:31. | :07:34. | |
government in this antimonopoly drive. They have also visited | :07:35. | :07:44. | |
Microsoft and Mercedes and they will impose big fines for Mono ballistic | :07:45. | :07:52. | |
behaviour. Lets get more with Duncan Innis Kerr, a China analyst. Great | :07:53. | :07:58. | |
to have you with us. GS K was already being investigated. Where | :07:59. | :08:05. | |
did this husband and wife come from? Did somebody planted them? The way | :08:06. | :08:09. | |
these two got involved is they were called in to investigate the frankly | :08:10. | :08:13. | |
quite bizarre way that the allegations against GS K were | :08:14. | :08:18. | |
raised. In doing so they seemed to have crossed some political lines | :08:19. | :08:22. | |
and that has landed them in this trouble. The problem is that this | :08:23. | :08:28. | |
has added what would have otherwise been a fairly ordinary antibribery | :08:29. | :08:34. | |
case. It's given that case a political smell that perhaps gives | :08:35. | :08:39. | |
GS K an excuse to blame it on politics than it would have had | :08:40. | :08:44. | |
otherwise. We have been following the big Beijing corporate crackdown | :08:45. | :08:49. | |
very closely. A lot of Western brands being targeted by Beijing | :08:50. | :08:52. | |
officials, are they also investigating Chinese companies? | :08:53. | :08:56. | |
Yes. Chinese companies are being investigated by the end ERC, but the | :08:57. | :09:01. | |
way is very different. Quite often the Chinese officials will come to a | :09:02. | :09:05. | |
negotiated agreement with Chinese companies, they don't tend to make | :09:06. | :09:09. | |
examples of them in the way Western companies are being made examples | :09:10. | :09:14. | |
of. That's partly because on the Chinese side either the companies | :09:15. | :09:18. | |
are big state`owned enterprises, or they are smaller private firms that | :09:19. | :09:21. | |
would not get the splash you would get when you accuse a big Western | :09:22. | :09:28. | |
brand. Does this change the goalposts for companies either | :09:29. | :09:31. | |
wanting to invest in China or at least get into China, a foothold in | :09:32. | :09:36. | |
China? China is one of the biggest markets in the world and it's | :09:37. | :09:39. | |
notable all of the companies being accused make a lot of money in | :09:40. | :09:43. | |
China. It's not like they are going to be leaving because of this. It | :09:44. | :09:47. | |
does make Western companies a lot more irritated and upset about the | :09:48. | :09:50. | |
operating environment in China. You've got to be in it to win it I | :09:51. | :09:54. | |
guess. Thanks very much. We appreciate your time. That's it, | :09:55. | :10:04. | |
follow me on Twitter. You can see me with the papers later on. | :10:05. | :10:17. | |
The NHS drugs watchdog in England has rejected a treatment that can | :10:18. | :10:22. | |
extend the lives of | :10:23. | :10:23. |