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presence in Scotland will boost votes for independence. The race is | :00:00. | :00:00. | |
tied with a week to go before the vote. Those are the latest headlines | :00:00. | :00:00. | |
from BBC World News. Now for the latest financial news with Sally | :00:07. | :00:08. | |
Bundock, and World Business Report. How Minecraft became a goldmine. | :00:09. | :00:22. | |
Microsoft's in talks to pay two billion dollars for the tiny firm | :00:23. | :00:26. | |
behind the blockbuster game. China's still open for business, | :00:27. | :00:29. | |
says Premier Li Keqiang at the World Economic Forum, despite rising | :00:30. | :00:31. | |
concerns foreign firms are being unfairly targeted. | :00:32. | :00:40. | |
Welcome to World Business Report. I'm Sally Bundock. Also in the | :00:41. | :00:46. | |
programme, a week until Scotland decides and big business makes | :00:47. | :00:49. | |
contingency plans in case it's Yes to independence. | :00:50. | :00:58. | |
We start with this ` if you have children over about six you'll | :00:59. | :01:00. | |
probably recognise it. It's Minecraft, a game that's sparked a | :01:01. | :01:07. | |
global internet craze. It involves building a sort of | :01:08. | :01:11. | |
Lego while avoiding monsters. It looks very simple with basic blocky | :01:12. | :01:13. | |
graphics instead of super`realistic animation. But it's about to make | :01:14. | :01:18. | |
its inventor incredibly rich. software giant Microsoft is in talks | :01:19. | :01:24. | |
to buy the company profits of around 115 million | :01:25. | :01:40. | |
dollars last year. All great news Markus Persson, known as "Notch", | :01:41. | :01:53. | |
usually seen wearing a black hat. The Swedish programmer has been | :01:54. | :01:55. | |
outspoken in his criticism of big corporate technology firms. If the | :01:56. | :02:00. | |
deal goes through though he stands become the latest tech billionaire. | :02:01. | :02:05. | |
According to Bloomberg his stake in the company plus earnings so far | :02:06. | :02:08. | |
would give him a net worth of 1.5 billion dollars. From New York, | :02:09. | :02:19. | |
Michelle Fleury reports. Minecraft is a hugely popular game | :02:20. | :02:23. | |
that makes lots of money for its owner. If a deal does go through | :02:24. | :02:29. | |
with Microsoft, it would guarantee the availability of the game across | :02:30. | :02:36. | |
their family of devices. Minecraft is a lot like virtual Lego but the | :02:37. | :02:43. | |
money it makes is very real. The company reported profits of $126 | :02:44. | :02:48. | |
million last year. Players explore and build in a world of blocks that | :02:49. | :02:54. | |
can be endlessly crafted and destroyed. The owner charges users a | :02:55. | :02:59. | |
modest one`time fee to buy its software. Microsoft has not shown | :03:00. | :03:02. | |
interest in buying a videogame company in the past, so why now? | :03:03. | :03:09. | |
Part of the answer may lie in its popularity. When Moe Jang first | :03:10. | :03:13. | |
released the game, it was downloaded more than 400,000 times in the first | :03:14. | :03:26. | |
24 hours `` Mojang. The new chief executive of Microsoft has | :03:27. | :03:31. | |
emphasized gaming and the cloud and while it is not clear how this would | :03:32. | :03:36. | |
fit into that strategy, it would fit right into Microsoft's platforms. | :03:37. | :03:50. | |
It promises to be a tense week ahead on UK markets as Scotland prepares | :03:51. | :03:53. | |
to vote on whether to declare independence next Thursday. A poll | :03:54. | :03:56. | |
at the weekend showing the Yes vote ahead for the first time send the | :03:57. | :03:59. | |
pound plunging. It is becoming harder to predict what the | :04:00. | :04:04. | |
referendum will be. Tensions have risen further in the business world | :04:05. | :04:07. | |
overnight as it emerged that Royal Bank of Scotland is preparing to | :04:08. | :04:10. | |
move its headquarters to London in the event of a Yes vote. Chris | :04:11. | :04:13. | |
Beachamp is from IG Index and joins me from their trading floor in the | :04:14. | :04:19. | |
City of London. This latest news about RBS and also | :04:20. | :04:27. | |
Lloyds, it is just adding to the tension in the market about what | :04:28. | :04:33. | |
will happen next week. It is exactly the kind of thing that markets don't | :04:34. | :04:37. | |
want to hear. Even if we were expecting to hear it. We hate | :04:38. | :04:43. | |
uncertainty and we are not quite sure what will happen in the event | :04:44. | :04:50. | |
of a Yes boat. `` vote. Many companies are making preparations in | :04:51. | :04:57. | |
case they decide to go that way. From the point of view of these | :04:58. | :05:02. | |
companies and in the case of RBS, big banks, they have had to say | :05:03. | :05:07. | |
something to cause they have been getting inquiries from customers and | :05:08. | :05:10. | |
investors wanting to know what their plan will be if next week is a | :05:11. | :05:17. | |
positive. Yes and you can't blame an individual investor or shareholder | :05:18. | :05:22. | |
for asking these questions. They are trying to reassure people that there | :05:23. | :05:27. | |
will be a continuity of business and that their money will be safe. The | :05:28. | :05:32. | |
question is not just a capital flight but also people worrying that | :05:33. | :05:38. | |
the negotiations between an independent Scotland and the rest of | :05:39. | :05:41. | |
the UK would lead to major disruption in the currency and so | :05:42. | :05:46. | |
the best thing to do, they feel, is to play it safe and move their money | :05:47. | :05:50. | |
southwards. When we talk about relocation, it is not about | :05:51. | :05:56. | |
thousands of staff or buildings but it is about legal entities, isn't | :05:57. | :06:04. | |
it? Is it not as big a deal as it sounds? It is about jobs and the | :06:05. | :06:07. | |
elements that go with it, the tax revenue and so forth. The businesses | :06:08. | :06:14. | |
have been saying that they would do the sensible thing and safeguard | :06:15. | :06:18. | |
their businesses as much as possible but this does raise questions as to | :06:19. | :06:22. | |
how they will maintain the fiscal responsibility in the event of a Yes | :06:23. | :06:28. | |
vote. They have yet to be answered fully and to the satisfaction of | :06:29. | :06:44. | |
many big companies. Thank you. To the Chinese port city of Tianjin | :06:45. | :06:47. | |
now where the country's Premier Li Keqiang has been addressing the | :06:48. | :06:50. | |
World Economic Forum. Premier Li has been reassuring global business | :06:51. | :06:52. | |
leaders that the country's economy is in good shape despite fears of a | :06:53. | :06:56. | |
sharp slowdown. He's also been addressing concerns the country's | :06:57. | :06:58. | |
authorities have been unfairly targeting foreign companies over | :06:59. | :07:00. | |
corruption after a spate of high profile investigations into | :07:01. | :07:01. | |
multinationals including GlaxoSmithkline. The BBC's Ali Moore | :07:02. | :07:17. | |
is there for us. But first, I will talk through some of those issues is | :07:18. | :07:20. | |
Duncan Innes`Kerr of the Economist Intelligence Unit. Be missed recent | :07:21. | :07:25. | |
economic news is telling us a different story from what the | :07:26. | :07:32. | |
Tranmere is indicating `` from what Premier Li Keqiang is indicating. | :07:33. | :07:40. | |
Yes, we're seeing a lot of weakness on the investment side of the | :07:41. | :07:43. | |
economy at the moment and that is reflecting the fact that China is | :07:44. | :07:47. | |
recovering from a credit of old in recent years and as they try to rein | :07:48. | :07:57. | |
back in it is having a big effect on the real estate sector `` bubble. `` | :07:58. | :08:09. | |
rein it back in. Some of the companies may have been put off I | :08:10. | :08:13. | |
recent allegations against companies like GlaxoSmithKline and Microsoft | :08:14. | :08:27. | |
`` by. As you said, China is the main source of economic growth in | :08:28. | :08:31. | |
the world at the moment even at the slower pace it is going at the | :08:32. | :08:35. | |
moment and although companies would like to consider other markets, they | :08:36. | :08:39. | |
still need to be in China and so they are looking for the government | :08:40. | :08:42. | |
to step up and improve the environment rather than relocating. | :08:43. | :08:47. | |
Is the improvement taking place? When there was the change of | :08:48. | :08:52. | |
leadership that happens on a very rare basis, many promises were made | :08:53. | :08:59. | |
and many promises of reform, are we seeing evidence of that? We are | :09:00. | :09:03. | |
seeing impact on the ground but the changes have yet to come through. | :09:04. | :09:09. | |
The companies are feeling the force of regulatory attention and it is | :09:10. | :09:14. | |
worth stressing that Chinese companies are also facing the same | :09:15. | :09:20. | |
issues. It is not just foreign companies that are facing pressure. | :09:21. | :09:31. | |
Thank you. In other news... Ana Botin has been | :09:32. | :09:34. | |
named as the new head of Banco Santander following the death of her | :09:35. | :09:38. | |
father Emilio, who suffered a heart attack aged 79. Ms Botin had been | :09:39. | :09:40. | |
running the UK division of Santander, which is now the | :09:41. | :09:43. | |
eurozone's biggest lender. Her appointment makes her one of the top | :09:44. | :09:46. | |
three women in global finance, says the BBC's business editor, along | :09:47. | :09:48. | |
with Federal Reserve chief Janet Yellen and IMF boss Christine | :09:49. | :10:02. | |
Lagarde full. Here are the financial markets. There is a lot of concern | :10:03. | :10:06. | |
about what is happening as far as the federal US reserve is | :10:07. | :10:11. | |
concerned. It is being talked about a lot on markets and affecting | :10:12. | :10:18. | |
trade. A good close, look at the pound sterling there, you can see | :10:19. | :10:20. | |
how it is trading at the moment. Figures from the Crown Prosecution | :10:21. | :10:50. | |
Service show that a number of people were prosecuted for harassment | :10:51. | :10:55. |