19/01/2016 World Business Report

Now for the latest financial news with World Business Report.

The new normal - China's economy grows at its slowest

pace for 25 years in 2015 - marking a roller coaster year.

But it is within the government's target.

And the European parliament takes on the likes of Netflix,

YouTube and the BBC in a fight over viewers' rights to

Unions are calling for the UK government to do more to help those

who work in the steel industry who are facing redundancy. Details in a

moment. China says its economy grew

by 6.9% in 2015. Annual growth in the world's

second-largest economy was Beijing had set an official growth

target of "about 7%" for 2015. Take a look over

the past five years. You can see the steep drop in growth

from double-digit figures just a few years ago as the country's

manufacturing sector shrank and is now in the process of moving

towards a consumer-driven economy. And to make matters worse -

some are concerned the figures may Fears over the slowdown have

also fuelled market volatility in China over recent weeks, spilling

over into global markets after shrinking foreign and domestic

demand, weak investment, factory overcapacity and an oversupply

in the property market. The impact

of the slowing economy is being felt across a range of industries -

not least the steel sector, as Stephen Evans reports

from Hangzhou. This is the glut that's swamping

the world. China's produced so much steel,

it leaves it rusting, And closes steelworks,

bricking them up. This steelworks couldn't compete as

steel prices crashed from ?600 a ton New figures tomorrow are expected to

show China's slowest growth Prosperity has improved

relentlessly, but now an -- unemployment poems.

China's moving from an economy which has grown phenomenally for 25 years.

Now it's the fearfulness of redundancy.

Redundant steelworkers gamble as they ponder the sudden

They all now compete with each other for work

He says, "The shutdown has greatly affected each and every one of us."

We've got old parents and young children we have to provide for.

Of course we complain. The still got is not going away. China's communist

government warns of more closures. It is brutal competition out there.

It's only economy only intensifies that competition between countries

and the twin workers. -- between. Stephen Evans, BBC News,

eastern China. At the moment, surprisingly, the

China markets are treating up despite the weak numbers. The

Shanghai and Shenzhen indices are continuing to be well entrenched in

positive territory. Traders say several factors could contribute to

these games. Although the numbers were weak, they were in line with

forecasts and strengthening expectations of more stimulus

initiatives going forward. They could be more rate cuts in benefits

that would put more money into the people's pockets. Secondly, you

mentioned this growth to be the new normal that the market has already

accepted, but Chinese officials also said the mainland economy will face

a similar situation in 2016 as in 2015, meaning more stable growth

this year. The other key figures released today from industrial

production, retail sales and fixed asset investment or expanded but

were below expectations. China over the past year has been hit by

shrinking foreign and domestic demand, weak investment, factory

overcapacity and an oversupply in the property market. The central

bank has cut interest rates six times since November 2014, and the

currency has depreciated as well. This is helped some sectors of the

economy, especially trade, uppity and services industries. Thank you.

-- property. It's how content offered by

entertainment companies is protected and is essentially blocked

by media firms. Companies that do this include

the likes of Netflix, YouTube This is how they ensure

their content is only broadcast But now the European Commission

wants to end unjustified geo-blocking, and the European

Parliament will vote on it today. With me is Phil Sherrell,

a media lawyer with Bird Bird. We have just put that very simply,

but it is really complicate it. Tell us what is at stake. The commission

said it wants a digital single market and that is a priority for

its five-year term. There are two things happening today. The first is

they bought a common edition investigation against the media

companies, the home with companies, sky and someone. They say you can't

segment content territorially. So there is a competition challenge

going on and there is a hearing today for the media companies to

explain why they split the market territorially. At the same time, the

European Parliament is adding its voice to the debate. There is a vote

today in Parliament to say whether they approve what the commission is

doing in terms of new laws. We heard the announcement before Christmas

that the commission wants to allow content portability. If I go abroad

should be able to access subscriptions I have paid for the

UK. And this throws up all sorts of issues for the likes of BBC and

Netflix in terms of the rights they pay for for things to be seen or

viewed or downloaded overseas. That kind of thing. It is a minefield.

Yes, if you look at how the pain -- pay-TV market is developing. They

are majoring on exclusivity, and the way they are driving customers is

saying we are the only ones with the rights to a series. The commission

is setting on breaking up this market completely, though we would

see a change in the landscape. Had you think this will play out, and

presumably the companies involved are already having to rethink their

strategy just encase? One thing is certain, for a consumer perspective

it is good news in that we will definitely get content portability

soon. That is taking your existing content abroad with you. It is less

clear how far the commission will go. I'd don't think it knows yet it

sell. The one thing they want to understand is is the defence of the

media companies true. -- knows itself yet. If that argument stands

up, maybe the commercial will go the other way. -- commission. Thank you.

We will keep an eye on that story. Certainly the BBC, I would imagine.

Attacks by the Islamic State group have led

to a fall in tourism in parts of North Africa,

where millions rely on the trade to make a living.

New figures from the United Nations World Tourism Organisation indicate

visits to North Africa fell by 8% in 2015, bucking a global upward trend.

Tata Steel and trade unions have called

for more British Government support for the industry, after the company

More than a thousand posts are to go, mainly

Global miner Rio Tinto has reported an 11% rise

in annual iron ore shipments - just short of forecasts.

And the mining giant is expected to boost production

While commodity prices are at multi-year lows, the company is

benefiting from strong output, low costs and spending cuts.

Let's show you the markets. Investors taking it in their stride

the news from China. You can see the main market in China just up

slightly. The Hong Kong up 1%. No surprises at all, which is a gift to

investors around the world. That is all from me for now. I will see you

soon as we look at the stories in the press.

Polling for the result of the General Election last year predicted

the wrong result because too many Labour voters were sampled and not