:00:00. > :00:00.are the latest headlines from BBC World News. Now for the latest
:00:00. > :00:18.financial news with Sally Bundock and World Business Report. Another
:00:19. > :00:21.fine ` Standard Chartered is ordered to pay $300 million by American
:00:22. > :00:28.regulators for failing to prevent money laundering. Bookseller Barnes
:00:29. > :00:39.and Noble teams up with Samsung in an attempt to revive the fortunes of
:00:40. > :00:46.its ailing e`reader, the Nook. Welcome to World Business Report.
:00:47. > :00:48.I'm Sally Bundock. Also in the programme: Japanese car parts makers
:00:49. > :00:55.are found guilty of price`fixing in China. We'll have the details. But
:00:56. > :00:58.first: One of Britain's biggest banks, Standard Chartered, has been
:00:59. > :01:01.fined $300 million by New York's banking regulator. It said the bank
:01:02. > :01:04.had failed to improve money laundering problems highlighted in
:01:05. > :01:19.2012, when it also had to pay a multimillion`dollar fine. Michelle
:01:20. > :01:22.Fleury is in New York for us. With operations here in New York,
:01:23. > :01:24.Standard Chartered suspended under the supervision of the Department of
:01:25. > :01:29.Financial Services. This is the second penalty the bank has paid to
:01:30. > :01:35.the main New York state regulator. Both are related to trade with
:01:36. > :01:38.countries blacklisted by the US. The British bank said it was working to
:01:39. > :01:44.fix these problems with the utmost urgency, in addition to improving
:01:45. > :01:50.compliance. As part of a settlement in 2012, a monitor was appointed to
:01:51. > :01:51.watch over its dealings. That surveillance uncovered failings to
:01:52. > :01:58.identify risky transactions that could be part of money`laundering.
:01:59. > :02:01.On top of that, the lender has been ordered to suspend or excerpts its
:02:02. > :02:04.business with risky clients in Hong Kong, and it cannot accept new
:02:05. > :02:19.clearing accounts in US dollars without the regulator's approval.
:02:20. > :02:24.Benjamin Law ski, a regulator with a reputation for being tough on banks,
:02:25. > :02:27.says if a bank fails to live up to its commitment, there should be
:02:28. > :02:29.consequences. The penalty is yet more bad news for chief executive
:02:30. > :02:36.Peter Sands and for Standard Chartered, which reported a 20% drop
:02:37. > :02:38.in profits. China fined 12 Japanese auto`parts makers a record 1.24
:02:39. > :02:41.billion yuan, that's $200 million, for price`rigging after one of the
:02:42. > :02:54.broadest investigations since the nation's antitrust law came into
:02:55. > :03:04.effect six years ago. Rico Hizon is in our Asia Business Hub in
:03:05. > :03:07.Singapore. Tell us more about this. This is interesting. The 12
:03:08. > :03:13.companies which have been pinpointed. That's right. You have
:03:14. > :03:18.eight auto`parts makers being fined $135 million, and another four
:03:19. > :03:25.manufacturers, $65 million. And this is due to so`called collusive
:03:26. > :03:30.behaviour. The companies drew this record antitrust fine as scrutiny by
:03:31. > :03:36.mainland authorities continues to tighten up, not only in the auto
:03:37. > :03:40.sector, but in other industries. And Sally, the investigations, which
:03:41. > :03:45.have led at least seven auto makers to cut prices, has raged so much
:03:46. > :03:51.concern from foreign businesses that European businesses say they are
:03:52. > :03:53.being picked on `` raised. But the government has stressed that
:03:54. > :03:57.companies operating in mainland China will be punished if they
:03:58. > :04:01.violate laws, regardless of whether they are domestic or foreign
:04:02. > :04:05.companies. One of my top stories last week was the dismal growth
:04:06. > :04:09.numbers coming from Japan. It was pretty shocking. But in terms of
:04:10. > :04:15.trade, they have had a good month in July. Fill us in. That's right. Good
:04:16. > :04:20.news. For the first time in three months, exports are in positive
:04:21. > :04:25.territory. Growth, driven by increased shipments of cars to
:04:26. > :04:29.Europe, metal processing machinery, and items such as LCD screens.
:04:30. > :04:34.Exports which account for more than half of Japan's total exports rose
:04:35. > :04:42.due to increases in ship. Exports to the US gaining as Japan shipped more
:04:43. > :04:46.car parts. `` shipments. Overall it has been positive in the month of
:04:47. > :04:52.July. Japanese exports have been struggling with weak demand from
:04:53. > :04:54.Asia through much of the year drew to a growing shift production
:04:55. > :04:58.overseas. But when you speak to analyst, they say this data is a
:04:59. > :05:01.tentative sign that overseas demand is starting to recover, raising
:05:02. > :05:05.hopes that exports could offset a slump in consumer spending, which
:05:06. > :05:11.has been impacted by this rise in the consumption tax from five to 8%
:05:12. > :05:19.from the 1st of April. Thank you very much indeed. Are you into
:05:20. > :05:22.e`books? The e`book reader Nook, launched by US publishers Barnes
:05:23. > :05:25.Noble, was meant to rival Amazon's Kindle. It cost billions of dollars
:05:26. > :05:28.to develop, but so far has reaped the company no profit. Later today,
:05:29. > :05:32.in New York, Barnes Noble will unveil a new version of the Nook,
:05:33. > :05:36.which it hopes will put it back in the e`book race. So what is it? And
:05:37. > :05:51.will it make any more money than the last version? Jeremy Howell reports.
:05:52. > :05:58.Barnes Noble launched its Nook e`book reader five years ago, as a
:05:59. > :06:06.rival to Amazon Amazon's enormously popular Kindle. But the Nook has
:06:07. > :06:11.racked up $17 million in losses. Amazon built on its strengths,
:06:12. > :06:16.launching the Kindle Via tablet and establishing complete dominance of
:06:17. > :06:19.the market. Nowadays in the US, a quarter of adults read e`books stop
:06:20. > :07:02.nearly half of them use a Kindle reader. Over a quarter years the
:07:03. > :07:43.Kindle Fire. Less than 10% use the Nook e`reader, and only 15% use the
:07:44. > :07:47.Nook tablet. They have succeeded by building an environment very early
:07:48. > :07:49.on when you could write a book with a single click. They made a
:07:50. > :07:52.marketplace where buying a book was a throwaway impulse purchase, much
:07:53. > :07:54.like iTunes is for Apple. By the time Nook came to the market with
:07:55. > :07:57.its own fully developed marketplace, they had already lost too much
:07:58. > :08:01.ground not only to Amazon but to the other viable platforms as well. I
:08:02. > :08:04.love it. The Mac this is so cool. This is really nice. A few days ago
:08:05. > :08:06.Tom Sharp eyed surfers on the Internet found this advertisement.
:08:07. > :08:08.It is an e`book reader app which will run on a Samsung tablet. The
:08:09. > :08:11.company is switching strategy, offering its product on another
:08:12. > :08:14.company's mobile device. The smarter purchasing option in my eyes is to
:08:15. > :08:16.buy a tablet you can read your e`books on, rather than a standalone
:08:17. > :08:18.device. So Samsung is being quite canny in that respect. However,
:08:19. > :08:21.there are already some great e`reader apps on the market, that
:08:22. > :08:24.you can download to any tablet or smartphone you own right now.
:08:25. > :08:27.Apple's devices and Google android devices already carried e`book
:08:28. > :08:30.reading apps. So it seems that in tying up with Samsung, Nook will be
:08:31. > :08:36.trying to fight its way into a crowded market place. In other news:
:08:37. > :08:38.Some Air France flight crews are refusing to board planes bound for
:08:39. > :08:41.Guinea, Sierra Leone and Nigeria, over fears of the Ebola outbreak.
:08:42. > :08:44.The airline said cabin crew scheduled to work on some flights
:08:45. > :08:47.have not wanted to carry out their assignment. But Air France says none
:08:48. > :08:50.of the flights destined for the region had been left short`staffed.
:08:51. > :08:53.Former Microsoft chief executive Steve Ballmer has said he is
:08:54. > :08:57.stepping down from the board of the tech giant, with immediate effect.
:08:58. > :09:00.In a public letter, Mr Ballmer said he had become very busy since he
:09:01. > :09:03.quit the top job, and that it would be impractical to continue. His
:09:04. > :09:06.decision to leave follows his recent purchase of the Los Angeles Clippers
:09:07. > :09:09.basketball team. And the handset maker HTC has unveiled a new
:09:10. > :09:12.smartphone that runs a Windows Phone operating system. The modified One
:09:13. > :09:15.M8 is being sold at roughly half the price of the same handset running
:09:16. > :09:18.Google's Android. This is the first time the struggling manufacturer has
:09:19. > :09:22.released a Windows smartphone in more than two years. Looking at
:09:23. > :09:27.financial markets, things are quieter and more volatile. Eight
:09:28. > :09:31.days in a row of gains for Japan. A weak yen, the dollar gaining ground
:09:32. > :09:41.against most major currencies, today you can see it buying 103 yen. That
:09:42. > :09:44.benefits Japan's bid companies like Sony and other export exposed
:09:45. > :09:50.companies. That is the close in the US. Look at the NASDAQ. One of the
:09:51. > :09:52.league games was Apple. Those shares climbed, boosting markets in general
:09:53. > :10:04.`` big gains. A government minister has described
:10:05. > :10:07.mental health services for young people in England as not fit for
:10:08. > :10:11.purpose and stuck in the Dark Ages. The Care Minister Norman Lamb was
:10:12. > :10:14.speaking to BBC News, as he gave details of a task force that is
:10:15. > :10:16.being set up to improve services. Mr Lamb was speaking to our social
:10:17. > :10:23.affairs correspondent, Michael Buchanan.