Browse content similar to 04/04/2016. Check below for episodes and series from the same categories and more!
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passengers, hit a mechanical digger that was on the track. | :00:00. | :00:00. | |
Those are the latest headlines from BBC World News. | :00:00. | :00:00. | |
Now for the latest financial news with the World Business Report. | :00:00. | :00:18. | |
A massive leak of confidential data from a law firm in Panama | :00:19. | :00:21. | |
reveals how the world's richest use tax havens to hide their wealth. | :00:22. | :00:26. | |
And the UK government says it is willing to offer support to secure | :00:27. | :00:30. | |
a buyer for the troubled Port Talbot steel works, where | :00:31. | :00:32. | |
Also in the programme, California and New York are set to raise | :00:33. | :00:48. | |
The UK government says it is willing to offer support to secure | :00:49. | :01:11. | |
a buyer for the Port Talbot steel works in Wales. | :01:12. | :01:14. | |
Last week Tata Steel, announced it was selling | :01:15. | :01:16. | |
A source close to Indian tycoon, Sanjeev Gupta, has said he wants to | :01:17. | :01:20. | |
hold talks with the government about the possible purchase. | :01:21. | :01:22. | |
The Port Talbot plant is thought to be losing $1.4 million a day. | :01:23. | :01:25. | |
With me is Alessandro Abate from Berenberg. | :01:26. | :01:27. | |
Talking about tighter and Port Tolbert, the government has said | :01:28. | :01:30. | |
they will possibly help find a buyer. -- Tata. Yes, Tata has two | :01:31. | :01:41. | |
areas, which process and make steel. There are some competitive issues | :01:42. | :01:47. | |
that make it difficult relating to currency, electricity and markets. | :01:48. | :01:54. | |
As far as the rolling assets, which are basically the only assets that | :01:55. | :01:58. | |
would find a buyer, the only option at the moment is that steel can be | :01:59. | :02:02. | |
sent to the UK. There are only two potential partners, the first one is | :02:03. | :02:13. | |
the Russians. They are able to produce slabs in the cheapest | :02:14. | :02:18. | |
possible way. The Brazilians may also be interested. There may be | :02:19. | :02:21. | |
some interest from overseas traders, which we have seen. It is difficult | :02:22. | :02:30. | |
at the moment because the European assets are more competitive. Would | :02:31. | :02:35. | |
be worth saving Port Talbot in business Times? There are many jobs | :02:36. | :02:44. | |
at stake, but what would be the business benefits? -- terms. They | :02:45. | :02:55. | |
have invested ?1.5 billion and they have a write-down of about ?2 | :02:56. | :03:08. | |
billion. So, there is potential for benefit. Is not just the UK which | :03:09. | :03:14. | |
has had issues. Italy, Germany, a number of areas have had issues. The | :03:15. | :03:27. | |
European Union has had tough competition with Chinese steel. They | :03:28. | :03:34. | |
have wanted to raise their tariffs. At the moment there are a couple of | :03:35. | :03:42. | |
other issues. The Italian steelworks could become privatised. May 23 is | :03:43. | :03:52. | |
when potential buyers have to submit a bid. There are only two interested | :03:53. | :03:59. | |
parties. But things are complicated because there are a lot of issues | :04:00. | :04:17. | |
relating to the environment. In a -- in Italy, it cannot be resolved | :04:18. | :04:20. | |
unless there are some major players. I think the best chance at the | :04:21. | :04:28. | |
moment is the Turkish steel. Thank you. | :04:29. | :04:36. | |
California and New York are poised to raise their minimum wages to | :04:37. | :04:39. | |
California's governor will sign the bill in Los Angeles later on Monday; | :04:40. | :04:44. | |
New York's governor also reached a tentative deal with his state's top | :04:45. | :04:47. | |
From New York, here's Michelle Fleury. | :04:48. | :04:50. | |
Compared with most parts of the world, the US economy is chugging | :04:51. | :04:55. | |
along nicely. Growth, low unemployment and not much inflation. | :04:56. | :04:59. | |
What is there to complain about? In a word, K. In this economy, wages | :05:00. | :05:07. | |
have not risen as fast as you would expect. That comes after decades | :05:08. | :05:11. | |
when incomes for working Americans have stagnated. The fight for 15 | :05:12. | :05:18. | |
seemed implausible to many, after all the federal minimum wage is $7 | :05:19. | :05:28. | |
an hour. -- $7.25. Here we are. The biggest date in the country is | :05:29. | :05:33. | |
putting plans in place to make $15 an hour a reality by 2022. In this, | :05:34. | :05:38. | |
the biggest city, will get there in just two and a half years. These are | :05:39. | :05:43. | |
big victories for campaigners, but for the lowest paid workers in most | :05:44. | :05:48. | |
of the country, $15 an hour is still a distant aspiration. And plenty of | :05:49. | :05:52. | |
economists would still argue that setting the minimum wage at that | :05:53. | :05:57. | |
level, hurts job creation. The fight for and the argument about $15 an | :05:58. | :05:59. | |
hour is by no means over. A huge leak of | :06:00. | :06:18. | |
confidential documents has revealed how the rich and powerful use tax | :06:19. | :06:20. | |
havens to hide their wealth. The 11 million documents were leaked | :06:21. | :06:23. | |
from one of the world's most secretive companies, a Panamanian | :06:24. | :06:26. | |
law firm called Mossack Fonseca. They show how the company helped | :06:27. | :06:29. | |
its clients launder money, Mossack Fonseca say they've operated | :06:30. | :06:31. | |
beyond reproach for forty years and never been accused or charged | :06:32. | :06:35. | |
with criminal wrong-doing. provides a glimpse into the workings | :06:36. | :07:01. | |
of offshore finance. The Miz -- Mossack Fonseca have released their | :07:02. | :07:08. | |
clients, they are linked to 72 current or former head of state. The | :07:09. | :07:15. | |
BBC has been investigating. This includes Colonel Gaddafi as one of | :07:16. | :07:24. | |
the clients. Their arrangements that people never thought would be viewed | :07:25. | :07:31. | |
by anyone. The files reveal a suspected multibillion-dollar | :07:32. | :07:40. | |
money-laundering scheme, including friends of President Putin and the | :07:41. | :07:46. | |
Icelandic Finance Minister's issues. He says he has done nothing wrong, | :07:47. | :07:50. | |
but files reveal a suspected needle of deal for President Putin. There | :07:51. | :07:56. | |
are many issues in the UK where people are using Panama to dodge | :07:57. | :08:01. | |
property taxes. Why does this all matter? Some of these shows Mossack | :08:02. | :08:07. | |
Fonseca undermining international regulations designed to prevent | :08:08. | :08:11. | |
money laundering. The British government is creating a register of | :08:12. | :08:14. | |
what is called a beneficial interest, a public list of who | :08:15. | :08:19. | |
ultimately owns every company in the UK. It is standard in the country to | :08:20. | :08:27. | |
know that, otherwise they could unknowingly be helping money | :08:28. | :08:33. | |
laundering. In some cases, they have take ownership records to hide how | :08:34. | :08:40. | |
much money a client owns. Mossack Fonseca says that they have operated | :08:41. | :08:46. | |
beyond reproach and have never been accused of charged in connection to | :08:47. | :08:54. | |
criminal wrong doing. And that the details are unsupported and false. | :08:55. | :08:55. | |
Thank you. And if you're on the UK, you can see | :08:56. | :09:06. | |
the Panorama programme, Tax Havens of the Rich and Powerful Exposed | :09:07. | :09:10. | |
tonight at 7:30pm on BBC One. In other news: | :09:11. | :09:12. | |
The IMF's Christine Lagarde is warning that a new deal on Greece's | :09:13. | :09:15. | |
debt is still some distance away. The comments were made in a letter | :09:16. | :09:18. | |
to Prime Minister Alexis Tsipras. Greece and its EU and IMF lenders | :09:19. | :09:21. | |
are due to resume talks this week to Iran says its oil exports have | :09:22. | :09:25. | |
reached 2 million barrels a day, following the lifting | :09:26. | :09:29. | |
of sanctions in January. The country says it won't take part | :09:30. | :09:37. | |
in a meeting later this month in Doha where freezing output will | :09:38. | :09:40. | |
be discussed. Iran has previously said it wants | :09:41. | :09:42. | |
to increase production until it | :09:43. | :09:50. |