25/05/2016 World Business Report


25/05/2016

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Now for the latest financial news with

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Marathon talks in Brussels reap rewards for Greece.

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At last some debt relief and another cash

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Rights, camera, action - the European Commission takes

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on the world's biggest players in digital media

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but what will the changes deliver for businesses and consumers?

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Eurozone finance ministers have agreed to unlock another $11.5

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billion worth of bailout funds to Greece.

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After marathon talks that ended in the early hours

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of this morning in Brussels, it was also agreed to phase in debt

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relief in two years' time - a key demand of the Greek government and

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The 19 ministers said the deal had been made possible by Greece's

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Pierre Moscovici, European Commissioner for Economic and

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We have now good agreement in place, which is as we expected and

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hoped, a global agreement which opens the way for significant

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disbursement of much-needed funding for Greece and for import and

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measures on debt relief. Above all, this opens the way for a return of

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the confidence that is so essential for lasting economic recovery in

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Greece, which is the purpose, so it is a very important moment in the

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long and sometimes ethical story -- important measures. It certainly was

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a difficult story. As part

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of the measures agreed Greece will gain a short-term re-profiling

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of its loans, while more expensive debt could be "swapped" with

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cheaper loans to bring down the That is quite radical for Greece,

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really. The likes of Amazon Prime

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and Netflix and could be just hours away from

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being forced to make more of their The move is part of a raft

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of proposals that will be unveiled later today as part

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of a plan to shake up the EU's broadcasting rules which haven't

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been updated in six years. The European

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Commission is expected to rule that at least 20% of the streaming Giants

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content consists of European TV Netflix has already

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denounced the plans saying they will lead to streaming sites buying lots

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of poor quality content just to make The plan could also

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leads to more rigorous age restrictions for certain content

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on sites like YouTube which traditional broadcasters wouldn't be

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able to show during the day. These include an end

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to the practice of Geo blocking - which has until now prevented

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customers in one country from buying electronics, clothing, shoes

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and other goods from online stores With me is Phil Sherrell, head of

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media at Bird Bird, joins me now. It is good to see you again. We have

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mentioned those elements but there is more. We expect a lot of come out

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today. They are the big things I have highlighted, the liberalisation

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of advertising rules for TV broadcasters, we expect ITV to have

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more flexibility to schedule adverts in prime time, and a big proposal to

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push more onto the platform is to say, you've got to pay more for

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content you are accessing, YouTube and music, which could be radical.

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Talk us through the reaction from Netflix. Headache? They say it will

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make them fund EU content which consumers don't want to watch and it

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is just gonna be lost. It is good news for EU and UK production

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companies who have forced the man for services. In terms of the rights

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issue, it must be a minefield? Yes. The biggest looks like they won't

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address, in the context of geo- blocking, they have been talking

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about forcing sports and media right owners to attend the rights

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internationally across the EU and stop passing it out by country. From

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the draft we have seen at his -- that has been dropped but we expect

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it to return later in the year. What does it mean for the European

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consumer? Will it make services better, or more complicated? There

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are different dynamics going on. It is a strong pro- consumer agenda,

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which we saw with these content rules which have already come out

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around allowing you to take UK subscriptions across Europe when

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travelling on business. It is a strong consumer element. And a

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strong EU create a element. It is about EU looking after media

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companies at the expense perhaps of US streaming services and platforms

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-- element. With a Netflix, but Amazon and others, they cannot do

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much, if they want to be in Europe they have to play ball? A draft is

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out today and thinking behind it is EU broadcasters are already subject

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to rules around local content and investment. From their perspective

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it is levelling the playing field for services competing. It is about

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keeping it fair. We shall watch this space with interest. Thank you for

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coming into its plane all of that. Tata Steel will announce

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its financial results for the first three months

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of this year later today. And they may also reveal which

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bidders will continue in the race to Tata Steel is unloading them

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because of steep losses. So what does all this mean

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for the financial prospects This is where Tata steel began

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its journey. Central India more

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than one century ago. Among the country's oldest steel

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companies, it grew to be one In 2007 it made a bold move,

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buying British factories, including The once prized possession

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is now a financial burden. Tata Steel wants to sell

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off its entire UK business and hopes Coming out of loss-making business

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in the UK has overall improved profitability and reduced the burden

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on the domestic business for Tata. They have been doing well

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in the domestic business. In terms of profitability

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and the margins. The decisions made in this building,

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the headquarters in Mumbai, are not aimed at shrinking part

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of the company hurting the bottom line, but also expanding in areas

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where there is money to be made. It recently opened up a factory

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in eastern India. And

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while the domestic business is doing Domestic demand, which should have

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picked up, or expectation of Steel companies

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in India are increasing capacity. And then

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of course there is competition from China which has been flooding

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the market with cheap steel. Even without its UK business,

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this Indian giant has many irons Uber, Gett - they're all tying up

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with carmakers with investments With more of the details, Sharanjit

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Leyl joins us from Singapore. It is nice to see you. Tell us more.

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That is right. Toyota has hailed a ride with Uber and VW with the

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operator Gett. These are separate partnerships, where in investment

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and technology research figure prominently. Toyota will invest an

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unspecified amount in Uber and offer leasing options for drivers. The

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companies will share knowledge and speed up efforts in driverless cars

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research and technology like in car apps, and VW will work with Gett in

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several European cities. The Gett CEO said that would involve

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technology and innovation also. We know that these deals follow the

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Apple $1 billion investment in the Chinese service a couple of weeks

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ago and in March GM invested $500 million into the US Uber rival Lift

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to develop and OnDemand network for self driving cars, all suggesting

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the nature of transport, getting from A to B is changing

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dramatically. It is indeed an thank you. -- and.

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In other news: Huawei is suing tech rival Samsung over claims that

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The Chinese firm said it was pursuing its South Korean rival

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in two courts - one in California, the other in Shenzhen.

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Huawei says that several of its cellular communications

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and software inventions had been used in Samsung's phones without

:09:27.:09:28.

Monsanto has rejected a $62 billion offer from Bayer that

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would have created the world's biggest agricultural supplier.

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The US company said he offer was "financially inadequate",

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but left the door open for a potentially higher bid.

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Hugh Grant, Monsanto chief executive,

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said the proposal significantly undervalued the company.

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He also raised concerns about whether a deal would be

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That is all from World Business Report. To mention the markets in

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Asia, riding high off the back of a good session in Wall Street before.

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I will see you soon. -- a good session in Wall Street the night

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before. Nurses

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and midwives will lobby Parliament today calling for a re-think

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of plans to scrap maintenance The proposals to axe the allowances

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were first put forward in November last year as part of

:10:19.:10:22.

the Chancellor's spending review.

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