Browse content similar to 12/08/2014. Check below for episodes and series from the same categories and more!
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Gaza. Those are the latest headlines. Now it is time for the | :00:00. | :00:00. | |
latest financial news. European farmers warned thousands of | :00:00. | :00:25. | |
tons of surplus pigmeat will be pushed on to world markets, causing | :00:26. | :00:34. | |
prices to slump. As the US and Asia push up prices, all eyes will be on | :00:35. | :00:39. | |
Asia where it reveals a second`quarter results. | :00:40. | :00:44. | |
Hello and a very warm welcome. Also in the programme, we look at New | :00:45. | :00:52. | |
Zealand's economy ahead of the elections. First of all, let's start | :00:53. | :00:59. | |
with pig farmers, who say they will suffer from the ban on pigmeat | :01:00. | :01:04. | |
exports to Russia. It was imposed by the Kremlin in response to Western | :01:05. | :01:09. | |
sanctions. Thousands of tons of surplus meat will be pushed onto the | :01:10. | :01:13. | |
world market, which farmers fear could lead to a slump in arises. | :01:14. | :01:22. | |
New life at this farm in Staffordshire. One of a chain owned | :01:23. | :01:31. | |
by middle pig producers. Every week, it breeds and sells 1200 pigs. The | :01:32. | :01:38. | |
problem for the chief executive is that the piglets are entering an | :01:39. | :01:43. | |
overcrowded market. Pig farmers in Canada and Brazil who have been | :01:44. | :01:49. | |
locked out of Russia will be trying to sell 150,000 tons of spear meet | :01:50. | :01:53. | |
on to other markets. Europe is one of the key markets. We cannot | :01:54. | :01:58. | |
quickly switch of the supplied to ease the capacity that is coming in. | :01:59. | :02:04. | |
There will be an effect on price. People will buy it but pay less for | :02:05. | :02:11. | |
it. If you have 5% supply into the market, this has a devastating | :02:12. | :02:20. | |
effect. This is the second blow that European pig farmers have taken from | :02:21. | :02:25. | |
Russia recently. 18 months ago, Russia banned the impact of European | :02:26. | :02:33. | |
produced meat on health grounds. `` import. That led to a fall in | :02:34. | :02:38. | |
prices. Since Christmas, the price that pig farmers get for produce has | :02:39. | :02:45. | |
fallen by one quarter. It has now fallen for that. Farmers want | :02:46. | :02:49. | |
stability in prices. If they do not get it, they stopped producing. | :02:50. | :02:54. | |
Then, prices rocket. Seeing prices go up and down is not in the | :02:55. | :03:00. | |
interest of consumers. A more long`term, stable market is what we | :03:01. | :03:06. | |
need. We need stable trading relationships. The recent import ban | :03:07. | :03:14. | |
was meant as a symbolic replied to Western sanctions on them. It has | :03:15. | :03:18. | |
become the number one worry for the industry in Europe. | :03:19. | :03:27. | |
Prudential releases second`quarter results in 60 minutes. All eyes will | :03:28. | :03:35. | |
be on Asian subsidiaries per analysts at the Chief Executive | :03:36. | :03:41. | |
Seymour 's future growth. The company has 30 million customers | :03:42. | :03:46. | |
across 12 Asian markets. It is a top three provider of life insurers in | :03:47. | :03:51. | |
the Hong Kong, India, Indonesia, Malaysia, the Philippines and | :03:52. | :03:58. | |
Vietnam. The Chief Executive has a call of 15% annual growth in the | :03:59. | :04:17. | |
region but is that really realistic? I joined by a senior analyst for | :04:18. | :04:20. | |
Insurers Credit Sites. It has done well. Since the new CEO came in | :04:21. | :04:26. | |
2010, he changed the focus. It is a success story. No doubt about that. | :04:27. | :04:34. | |
In 2010, the CEO wanted to acquire it in Asia. He was probably one of | :04:35. | :04:44. | |
the analysts who mentioned that. He has done much amend this job. That | :04:45. | :04:55. | |
is exceptional. You do not see that trend with many European companies. | :04:56. | :05:02. | |
What are the risks of ploughing ahead in the way in Asia? There is a | :05:03. | :05:09. | |
huge amount of potential. There must be some risks involved as well. They | :05:10. | :05:21. | |
are as strong GDP growth. You could argue that things would change if | :05:22. | :05:25. | |
the rate was changed. It would reduce the consumption of these | :05:26. | :05:32. | |
products. We do not have any fact records. There is a risk. Prudential | :05:33. | :05:46. | |
reports its earnings in sterling. There will be adjustments over time. | :05:47. | :05:52. | |
So, in countries like the Philippines, where the economy | :05:53. | :05:58. | |
sinks, it is not a priority. What about the United States? That is 50% | :05:59. | :06:05. | |
of its revenue at the moment. That is a big market. The focus never | :06:06. | :06:12. | |
days is on Asia for growth. Also, on the US. They are as a core economy. | :06:13. | :06:25. | |
It will benefit from a change in the credit rating. You need to be their | :06:26. | :06:38. | |
two enjoy the strong demand. `` there to. | :06:39. | :06:42. | |
Earnings will come out later this morning. It will happen when trading | :06:43. | :06:50. | |
ends. Let's go to Singapore. They are focused on New Zealand. They are | :06:51. | :06:56. | |
entering campaign period. Voters have got to decide what to do. There | :06:57. | :07:03. | |
are close on the horizon. Record he's on is in Singapore. Good | :07:04. | :07:08. | |
morning. If you look at the economy, there | :07:09. | :07:13. | |
are risks and rewards. Currently, if you take a look at it overall, it | :07:14. | :07:19. | |
has been strong. The numbers reveal that GDP and gross domestic product | :07:20. | :07:25. | |
has expanded by 1% every quarter. It has expanded by 3.3% in the March | :07:26. | :07:31. | |
quarter, compared to levels years ago. If you look at the data, it is | :07:32. | :07:36. | |
one of the highest in the developed world. With elections taking place | :07:37. | :07:41. | |
next month, in September, the National party led by John Key wants | :07:42. | :07:48. | |
a three`year term. It is highlighting this achievement. It | :07:49. | :07:51. | |
comes on the back of the fastest economic growth that the country has | :07:52. | :07:56. | |
seen in seven years. The budget is projected to be in surplus for the | :07:57. | :08:02. | |
first time in seven years. With the reward, there are risks that must be | :08:03. | :08:09. | |
addressed, including rising interest rates and falling prices. Borrowing | :08:10. | :08:15. | |
costs stand at 3.25%. It is expected to keep rising to try to stave off | :08:16. | :08:20. | |
inflation, due to strong economic growth. There are plunging prices | :08:21. | :08:27. | |
which may squeeze incomes and curb spending. Economic growth may slow | :08:28. | :08:32. | |
down moving forward. This is the risk. The opposition Labour Party is | :08:33. | :08:39. | |
looking for loopholes in the agenda. This is one of them. They are | :08:40. | :08:43. | |
pushing for a rate that is raising the minimum wage. | :08:44. | :08:50. | |
In other stories making headlines, it has been reported that the | :08:51. | :08:57. | |
international pharmaceutical client GlaxoSmithKline is facing new | :08:58. | :09:00. | |
allegations of bribery. This is about Syrian distributors who tried | :09:01. | :09:09. | |
to increase sales in the country. Writers says there have been | :09:10. | :09:13. | |
anonymous e`mails sent between top managers. It follows allegations and | :09:14. | :09:20. | |
Syria into corruption and bribery claims in China. GlaxoSmithKline | :09:21. | :09:24. | |
says it will investigate the claims. The Mexican president has put into | :09:25. | :09:30. | |
effect a new set of regulations that will allow foreign companies to | :09:31. | :09:35. | |
drill for oil and gas and produce electricity. He said the new energy | :09:36. | :09:39. | |
log will attract millions of dollars needed to boost declining oil | :09:40. | :09:45. | |
output. Financial markets are again very | :09:46. | :09:50. | |
robust today. Hong Kong is down slightly. This follows a good | :09:51. | :09:54. | |
session on Wall Street. The continued work going on between the | :09:55. | :09:58. | |
Ukraine and Russia is seemingly due to better relations which have | :09:59. | :10:03. | |
improved the market. That is all for now. Goodbye. | :10:04. | :10:05. |