02/03/2016 World Business Report

Now for the latest financial news with Sally

Super Tuesday points to a Trump versus Clinton race to the

White House, but to what extent is the economy

And, not getting behind the wheel of driverless cars.

Theo Legget has been finding out for us at the Geneva Motor Show.

A sunny outlook for Australia.

Its economy keeps growing, despite the global commodities slump

Our team in the region has the latest.

It's the morning after Super Tuesday,

and the results so far point to a contest between Donald Trump and

Hilary Clinton to become the next President of the United States.

The election is on November the 8th, so there is still a long road ahead.

So, what do we know about the two candidates

With me is Jacob Parakilas, Assistant Head of the US and the

Good morning. Good morning. Nice to have you on the programme. First of

all, your reaction. It is what we expected. Donald Trump was predicted

to do well and he did, losing a couple of states to Ted Cruz and 12

Marco Rubio. Marco Rubio was supposed to be the choice. -- one

to. He only won one. If you cannot do it on March 15 that is the end of

a challenge to trump. But Donald Trump is incredibly divisive within

the party and may not face a challenge on July. Bets are still

off. But it looks like they will become the nominees. If so, what do

we know about their thoughts on the US economy? And is that a big issue

for voters? There is a divide between Democratic and Republican

voters on this. Democratic voters are looking at domestic issues and

the Republican are looking at foreign policy. That may change in

the General Election. The issues that the two parties debate may

change. But it is as I said earlier. Donald Trump has interesting ideas

with taxes. Took us through some of the ideas he has floated and some of

the numbers that don't add up. Donald Trump in the past has

proposed a significant wealth tax, at one point, 40%, on the

wealthiest, to settle the national debt. -- 14%. He has backed away

from that and is going with the lines of the other nominees. He

wants to lower taxes across the board. It is difficult to see how

that will be paid for based on the spending plans he has put forward of

us. On the -- so far. Bernie Sanders says he is there to give back to the

American household. To what extent will Hillary Clinton than that

drum? And what about Obamacare? It was so difficult to get. Hillary

Clinton wants to build on Obama's term in office, continuing that. The

option to pursue major progressive change is fairly limited. She has

taken ideas from Bernie Sanders, but a more moderate version, and will

run without. It has been great to have you on the show, Jacob

Parakilas, I know you will be on here against the -- with that. --

again. Australia's economy grew by 3%

in the three months to the end of December last year

when compared to the year before. This is much better than most

economists were expecting and very encouraging, given

the headwinds Australia is facing at the moment with lower commodity

prices and slowing growth in China. Sharanjit Leyl is in our

Asia Business Hub in Singapore. Nice to see you. Yeah. Australia is

known as the Lucky country. The latest economic figures confirm

that. Those growth figures were better than expected. Surprising

when set against the context of Australia being a major commodity

producing nation at a time when those commodities are actually worth

far less. That is due to the fact that they are aiming to mind their

commodities with the context of the falling Australian dollar. -- mine.

The price has dropped and the industry in Australia remains

competitive compared to other commodity exporting countries like

Brazil which is struggling with recession. And we are looking at

other figures also better, like tourism, finance, education, they

are really parts of Australia's economy and they have benefited from

that weak Australian dollar. And the agricultural system as well as

demand in Asia increases for Australian meat. Thank you.

Interesting news coming from Australia.

At the Geneva Motor Show this week, talk of a revolution is in the air.

Self-driving car concepts are everywhere, giving us a glimpse

of what a driverless environment might actually be like.

Theo Leggett has been looking into the future.

If the car of the future is going to be driverless who needs a steering

wheel? Let's put that away and bring up this high-definition screen. I

can use it to play games or to work, maybe look at my e-mails. --

do. Let's bring those. A nice sound system. This is the brainchild of a

Swiss think tank looking at what the future of a driverless vehicle could

be. It doesn't have to look like this but it could be. If I want to

go back to old-fashioned driving them the steering wheel comes back

out again. -- then. Many people claimed that the passion of driving

is being taken away from them. I don't agree. You can push a button

to get autopilot switched off. You might think a car like this is a

figment of the imagination, after all, it has a droid on the back. But

ideas like these are becoming decidedly mainstream. Look at this

one. It comes from a mainstream manufacturer. It is from Nissan.

Look at the steering wheel. There she goes, tucked away into the

dashboard. Outcomes your entertainment. -- out comes. This is

just another concept car, obviously, so does it really matter? Nissan

says it does. Many of the technologies developed in the

prototype will soon find their way into cars like the Qashqai over

their which you really can buy. -- there.

Oil giant, Shell, is being sued in London

for the second time in five years over spills in the Niger Delta.

Two communities are claiming compensation and want Shell

Shell said it is at an "early stage" in reviewing the claims and that the

US chipmaker Qualcomm has agreed to pay $7.5 million to settle

allegations it violated bribery laws by hiring younger relatives

According to the US Securities and Exchange Commission, Qualcomm

went to "extraordinary lengths to gain a business advantage".

The probe found the firm also provided gifts,

travel and entertainment to try and influence officials.

Qualcomm did not admit or deny the allegations.

The financial markets. An interesting day so far. Very

positive, especially for Japan, up 4%. Hong Kong, also strong. The

United States, I don't know if we can show you, but the Dow Jones

ended up 2%, so did the main markets. That bodes well for a good

session in Asia. The yen is cheaper. That is helping shares in Tokyo.

That's all from me. I will see you soon when we look at