:00:00. > :00:00.Now for the latest financial news with Sally
:00:00. > :00:22.Artificially intelligent robots that talk to humans as
:00:23. > :00:26.Facebook is getting in on the act, but is it just another way
:00:27. > :00:35.The EU will present its proposal for a new data transfer agreement
:00:36. > :00:37.with the United States after the so-called "Safe Harbour"
:00:38. > :00:56.Chinese trade news shows the worlds second
:00:57. > :01:04.Facebook is holding its annual developers conference
:01:05. > :01:08.The idea is to show off new products the social network believes will be
:01:09. > :01:12.This year, the company has unveiled chat bots
:01:13. > :01:18.It's a form of artificial intelligence, which Facebook hopes
:01:19. > :01:21.will create a more interactive experience within the messaging app,
:01:22. > :01:24.such as giving users the ability to shop, book travel, and more.
:01:25. > :01:27.Chatbots learn from data sets, so they can mimic the way
:01:28. > :01:42.Many big companies are already using virtual assistants
:01:43. > :01:44.on their websites, because they are cheaper than training humans.
:01:45. > :01:47.And, some studies suggest people prefer dealing with bots on websites
:01:48. > :01:56.According to research firm, Gartner, up to 85% of customer service
:01:57. > :02:12.Dave Lee is at the Facebook developers conference for us
:02:13. > :02:19.and asked the network's head of messenger what the bots will bring.
:02:20. > :02:28.I think your life will be more and more on the messenger. You will
:02:29. > :02:41.interact with airlines is, as we announced a few weeks ago. You can
:02:42. > :02:48.tap in an address and get a ride soon... An increasing amount of your
:02:49. > :02:58.life will be spent in those threads in passenger with businesses. --
:02:59. > :03:04.messenger. Some people are already worried about bots irritating us in
:03:05. > :03:11.ways we haven't had to deal with before. But bots cannot start an
:03:12. > :03:22.interaction with you unless you want them to. We will have prominent user
:03:23. > :03:31.controls as well. If you don't want messages you will not get them. We
:03:32. > :03:37.want the experience of messenger to remain low noise. We have controls
:03:38. > :03:45.in place to make sure that happens. But if someone has my account they
:03:46. > :03:49.can do a lot of damage. How do you stop that from happening? Is it a
:03:50. > :03:56.security nightmare? Facebook has always been known for world-class
:03:57. > :04:01.security. We do really well to protect people from all kinds of
:04:02. > :04:06.different, you know, evil intentions and people. I think we are in a
:04:07. > :04:12.great position to continue doing that. If you look at the variety of
:04:13. > :04:17.different properties you use on line, I don't think they are as well
:04:18. > :04:23.equipped as we are to deal with that. And in the future we will have
:04:24. > :04:26.technology to be even safer. If you are having interactions with
:04:27. > :04:34.financial institutions wicked have the ability to secure that thread
:04:35. > :04:42.and secure your information. -- we could. So it is a positive, not a
:04:43. > :04:48.negative, on the security side. If you want to know more about that
:04:49. > :04:54.conference followed Dave on Twitter. -- follow. He is talking
:04:55. > :04:57.about it at the moment. Some
:04:58. > :04:59.of the world's largest corporations, including Google, Facebook,
:05:00. > :05:01.and Amazon, store data about In fact,
:05:02. > :05:04.every day there are literally thousands of bytes of data winging
:05:05. > :05:07.their way across the Atlantic. The question is how to keep
:05:08. > :05:09.that information safe. EU data protection authorities are
:05:10. > :05:11.to publish their opinion today on a new agreement put forward
:05:12. > :05:14.by the European Commission. The new deal is called
:05:15. > :05:16."Privacy Shield," and it's intended to replace the earlier "EU-US Safe
:05:17. > :05:19.Harbor" deal, which was thrown out by the European Court of Justice
:05:20. > :05:22.last October following a complaint With me is Camilla Graham Wood,
:05:23. > :05:40.Legal Officer at We will try to make sense of this.
:05:41. > :05:49.Good morning. Just explained how this will work. -- explain. It is
:05:50. > :05:55.the new proposed data sharing agreement. It is being reviewed
:05:56. > :06:01.currently by data regulators. We understand they will make a decision
:06:02. > :06:05.today. There have been leaks that many regulators are not happy with
:06:06. > :06:14.the proposals in this agreement and they are sufficient to safeguard
:06:15. > :06:19.data. Do we know how it will work and how it is different to Safe
:06:20. > :06:28.Harbour? It is not sufficiently different. Your data in America is
:06:29. > :06:37.not owned by you, but in Europe you have control over it and you have
:06:38. > :06:41.access to it. Under Privacy Shield, the inadequacies in America still
:06:42. > :06:48.remain. It isn't adequate. Why would the part looking into this come up
:06:49. > :06:52.with something inadequate? That is a good question. This is a fundamental
:06:53. > :07:01.time where, even in America, they could push for fundamental data
:07:02. > :07:04.regulations. That isn't happening. These interests are in weak
:07:05. > :07:12.protections because these companies want to use and sell your data.
:07:13. > :07:17.While we hear a lot of propaganda that the Privacy Shield is
:07:18. > :07:22.equivalent to Europe, that is completely untrue. If you are
:07:23. > :07:29.right, though, resume oblivious system, Privacy Shield, as we know
:07:30. > :07:38.it, will not necessarily become the EU directives in the end. --
:07:39. > :07:42.presumably. -- directive. It has a lot to go through at the moment.
:07:43. > :07:51.That is what we hope. It has a lot to go through first. We want to have
:07:52. > :07:57.protection from both sides of the Atlantic. We have to question, if a
:07:58. > :08:04.company in America can play fast and loose with our data why can't
:08:05. > :08:07.Europe? We need equivalent protection. We will update you more
:08:08. > :08:10.on that. Now, let's talk about China because
:08:11. > :08:13.today we have some good news. Or, at least,
:08:14. > :08:15.that's how it looks on the surface. Exports surged by nearly 19%
:08:16. > :08:17.in March Plus, the fall in imports declined,
:08:18. > :08:20.too. Rico Hizon is in our
:08:21. > :08:35.Asia Business Hub in Singapore. Lovely to see you. Sally! Investors
:08:36. > :08:43.are too enthusiastic. They are excited. It went past expectations.
:08:44. > :08:47.The first increase is June. Asian markets are rising. -- since. But
:08:48. > :08:53.don't celebrate just yet according to analysts. It is roaring back to
:08:54. > :08:57.life due to a massive injection of credit from the government which
:08:58. > :09:04.could translate to higher debt levels going forward. For now, it
:09:05. > :09:09.has limited lectures on the consumption. But if you break down
:09:10. > :09:14.the numbers the figures were helped by having a low basis of
:09:15. > :09:24.comparison. Exports plunged by 50% year-on-year in March, 2015. Exports
:09:25. > :09:28.were held by seasonal distortions around the holidays. Imports were
:09:29. > :09:33.lifted by shallower commodity price deflation. The bottom line of this
:09:34. > :09:39.analysis, we still may see weaker external demand of exports going
:09:40. > :09:46.forward. This may just be an aberration. In the first three
:09:47. > :09:52.months, China's trade with the EU, America and Southeast Asia are all
:09:53. > :10:01.the client. It is being underpinned by a surging credit. -- declining.
:10:02. > :10:03.OK, I am not smiling as much now. Thank you, Rico Hizon.
:10:04. > :10:07.The International Monetary Fund has cut its global growth forecasts
:10:08. > :10:09.for the second time in just three months.
:10:10. > :10:12.The IMF now sees global expansion this year at 3.2%, down from
:10:13. > :10:16.China's slowdown and weak commodity prices are being blamed, but the IMF
:10:17. > :10:27.also sees financial risks and geopolitical shocks ahead.
:10:28. > :10:38.The price of oil is down slightly at still above $44 a barrel. It is used
:10:39. > :10:45.in stocks around the world. Oil stocks are doing really well. Japan,
:10:46. > :10:52.over 2%. A weaker yen is boosting sentiment. I will show you the US.
:10:53. > :10:57.The figures are getting there, I am getting in trouble. I will see you
:10:58. > :11:00.in a few minutes.