26/02/2016 World Business Report

Those are the latest headlines from BBC World News.

Now for the latest financial news with

It's Silicon Valley versus Washington.

Apple steps up its legal battle with the FBI over

iPhone privacy, as Google, Facebook and Microsoft line up in support.

Plus, G20 finance chiefs gather in Shanghai amid growing concerns

More on the G20 in a moment, but first:

I have nine minutes, give me nine minutes and I will give you a

fascinating snapshot of all the latest in the world of business and

money. We start with Apple, and the growing

battle between Silicon Valley and US On Thursday Apple launched legal

action to try and overturn a ruling that it must help the FBI hack into

the iPhone of the San Bernadino The likes of Facebook,

Google and Microsoft are all lining Let's just recap some

of the details. On 16 February, a federal magistrate

ordered Apple to help the FBI unlock the iPhone 5C that was found

at the scene of the shootings. That would require Apple to write

special software to disable the phone's passcode protection,

currently if you get it wrong ten times it

deletes everything on the phone. Apple says that could take a team

of ten engineers a month to do. More to the point,

it argues the code would create a 'back door' or master key to

millions of iPhones, leaving users vulnerable to hackers, criminals

and unwarranted surveillance. It's reported Apple is now looking

at ways to redesign the iPhone to Here's the Head of the FBI

and the boss of Apple giving I love encryption, I love privacy,

and want to hear corporations saying we will take you to a world where no

one can looks at your stuff. I think that is great, I don't

want anyone looking at my stuff. But then I take a step back

and law enforcement, which I'm part If we had

a way that we could get information on to file without exposing hundreds

of millions of other people to The only way we know would be to

write a piece of software that we view

as a software equivalent of cancer. Tim Danton is Editor-in-chief at

PC Pro magazine. Great to have you in the studio. Tim

Cook is not mincing his words, easy? Does Apple have a point, and all the

other backers, that once this is written... I suppose it is like when

they first designed a nuclear bomb, it is out there. He is that it? That

is their big worry, that is the argument. What the FBI is saying, we

will give you the phone, you can do this in your labs, we don't need to

see the code at all, just when the time comes, dear mind doing the same

thing again. That is their argument. What Apple is saying is that as soon

as they have done this, the code is very vulnerable to hackers. They are

saying it will seep out into the world because it is so valuable. If

this wasn't such a public spat at the moment and we didn't know about

it, would Apple do it on the quiet anyway? I think they probably would,

but as you said, Silicon valley against the FBI. Their motivation is

that all these companies want to be seen on the side of people, on the

side of encryption, give us your data and we are safe. If it was

behind closed doors, I think Apple would probably do it. I know you are

not a legal person but can the US authorities force Apple, saying you

have to write the code? Surely Apple could just say, we don't know how to

do it? Yes, but they can't make that argument. They have given that up.

They have admitted they can do it it does take a while. There is

precedent. A few years ago, Yahoo! Went all the way to the Supreme

Court and were eventually told, you have to do this. Every day you hold

back we will find new quarter a million dollars -- fine you. Do you

think Apple is getting a bit too big for its boots? I think Apple is

pretty big for most routes. That is long past. Apple needs to do this,

it is a key part of its business, they need to be seen to be saying,

give us your data and it will be safe with us. They are definitely

more valuable than the FBI, aren't they?

Let's go to Shanghai now, where finance ministers and central

bankers from the world's wealthiest developed and developing countries

High on the agenda of course, concerns about the weakening global

economy and particularly the slowdown in China itself.

IMF chief Christine Lagarde has been warning in the last few hours

about the huge sums of money flowing out of China.

That has been underlined by a further slump on the Shanghai

stock market which fell more than 6% on Thursday.

Our correspondent, Robin Brant, who is at the G20 in Shanghai.

Good to see you, I can only help but think one of the big focal point at

this gathering will be these leaders looking at the central bankers and

going, what are you going to do to reignite the global economy? Central

bankers will say, we have no tools left. I think the armoury is pretty

much empty. If you look at interest rates in the UK and the US, they at

record lows. They come here to Shanghai without much left to give.

Having said that, we have heard in the last few days from China's

central banker, and he has hinted that possibly a way out for this

country in terms of dealing with the slowdown that is coming. The days of

double-digit growth in China are over. Just a few weeks ago, we learn

that the growth rate for China is 6.9%. It is still growing, but there

is a slowdown. How do they deal with that, how do they show confidence

and deal with that at the same time as shifting the economy away

from... A big problem for China's leaders, and a big hint in the past

few days that they could borrow more, the government, and spend

their way out of this. Are their high hopes for something concrete

coming out of this? In short, no. The G20 doesn't often come up with

policy, particularly policy that they stick to, the 20 members, and

deliver on. I think what they want from the politicians here in China

is signs of confidence and competence in their ability to deal

with the slowdown that is coming. We will speak to you again soon,

thank you. Shares of struggling Japanese

electronics giant Sharp have slumped further amid doubts over

a takeover to rescue the firm that Foxconn of Taiwan says it's delaying

signing the deal until it has clarified new material

information received from Sharp. According to the

Wall Street Journal, Foxconn has received a document outlining what

it calls 'contingent liabilities' of some 350 billion yen - or more than

$3 billion, on Sharp's books that Don't forget you can get

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