:00:00. > :00:00.Now for the latest financial news with Ben
:00:00. > :00:19.Latin America's largest airline, Chile-based LATAM Airlines,
:00:20. > :00:22.says it will suspend its flights to Venezuela due to
:00:23. > :00:28.It's after a similar decision by Lufthansa over the weekend.
:00:29. > :00:30.India looks likely to hold onto its ranking
:00:31. > :00:33.as the world's fastest growing economy later, but is it delivering
:00:34. > :00:46.In a minute, we find out if India's economic growth is delivering
:00:47. > :00:55.Latin America's largest airline, LATAM, which is based in Chile,
:00:56. > :00:57.says it will suspend its flights to Venezuela.
:00:58. > :01:00.On Saturday, the German airline Lufthansa also said it was stopping
:01:01. > :01:04.It says it is owed more than $100 million in ticket revenue.
:01:05. > :01:23.As the queues for basic monarchs continue in Venezuela, the economic
:01:24. > :01:26.crisis has forced another company to rethink its involvement in the
:01:27. > :01:30.nation. Following an announcement by Lufthansa that they would be
:01:31. > :01:40.suspending flights between Frankfurt and Caracas, now, LATAM is following
:01:41. > :01:47.suit. It's Sao Paulo to Caracas route will end and others will be
:01:48. > :01:51.halted by the end of July. -- its. The president points to such steps
:01:52. > :01:57.as evidence of what he calls an economic war being waged against the
:01:58. > :02:01.oil rich nation to force him from power. But it comes after both
:02:02. > :02:04.companies complained for years that currency controls have made it
:02:05. > :02:12.impossible to repatriated their earnings in hard currency. Instead,
:02:13. > :02:17.they have dollars tied up in Bolivar.
:02:18. > :02:23.It is not just airlines, however. Recently, Coca-Cola said it would be
:02:24. > :02:29.halting production of some of its offerings because of a lack of
:02:30. > :02:34.sugar. Also, Bridgestone is ending in its 60 year involvement with the
:02:35. > :02:37.country. -- its. Later today,
:02:38. > :02:39.India will reveal how rapidly it's The country has become one
:02:40. > :02:43.of the fastest expanding economies And the International Monetary Fund
:02:44. > :02:46.estimates growth of 7.5% But despite the strong performance,
:02:47. > :03:01.job creation is still This has become a common sight
:03:02. > :03:07.outside most suburban train stations in Mumbai. These men are not
:03:08. > :03:12.travellers, but out of work construction labourers who have lost
:03:13. > :03:18.jobs due to a slowdown in the sector. They are here daily in the
:03:19. > :03:24.hope of getting more jobs and the ability to earn some money. This is
:03:25. > :03:29.the spot where residents of the area come to get hired. Most of them left
:03:30. > :03:35.farming and moved to Mumbai to become construction workers. One of
:03:36. > :03:39.them is this man. He came to the city in 2007. He lost his
:03:40. > :03:45.construction job two years ago. Since then, he has been struggling
:03:46. > :03:53.to survive. TRANSLATION: I used to own $200 every month. Now, I barely
:03:54. > :03:56.get one third of that. In fact, I am planning to move back to my
:03:57. > :04:03.village. At least then I will be able to earn more as a farmer.
:04:04. > :04:07.Despite strong economic growth, creating jobs is still a challenge
:04:08. > :04:13.for India. The construction industry is the second largest industry in
:04:14. > :04:17.the country, after agriculture. There are concerns that a slowdown
:04:18. > :04:21.in the culture could push more people into farming. -- sector. This
:04:22. > :04:28.has been under construction for more than two years. The developer has
:04:29. > :04:34.been struggling to find buyers. Now, due to a lack of funds, worked at
:04:35. > :04:39.the site has been stalled. You will find equipment here, but no workers.
:04:40. > :04:45.It is not just the housing sector that is affecting jobs. Stalled
:04:46. > :04:47.infrastructure projects are also contributing to the problem.
:04:48. > :04:59.Businesses blame red tape and slow improvements. Projects are being
:05:00. > :05:05.delayed a lot. This leads to a loss of confidence from the investors.
:05:06. > :05:11.India has one of the youngest populations in the world, and it
:05:12. > :05:15.needs to create 10 million jobs every year for the new people
:05:16. > :05:19.entering the workforce. Achieving that target will be the key for
:05:20. > :05:29.Asia's third-largest economy to realise its potential. BBC News,
:05:30. > :05:34.Mumbai. So, can India's expected growth outweigh the effects of
:05:35. > :05:41.China's slowdown? Rico Hizon can answer that. That is what the IMF
:05:42. > :05:45.and many investment banks are saying, India can continue to
:05:46. > :05:51.outperform China. Look at the consensus on growth numbers. It is
:05:52. > :05:58.expected to expand by 7.5% from January. That as fast faster than it
:05:59. > :06:03.used to be. -- faster. You have a steady performance in the services
:06:04. > :06:08.sector, that is one of the main drivers of this economic push.
:06:09. > :06:11.Despite the numbers, critics say that the growth is not conclusive
:06:12. > :06:18.and not felt across all sectors of society is. They see a widening gap
:06:19. > :06:23.between the rich and the poor. -- society. On the flipside, there are
:06:24. > :06:28.some key factors that could help growth this year. That includes low
:06:29. > :06:35.spending in the private sector and a stressed bagging industry. Narendra
:06:36. > :06:43.Modi, after two years in office, has to convince investors they can push
:06:44. > :06:49.forward with economic policies like a Goods and Services Tax bill. This
:06:50. > :06:53.is important to sustain the current growth momentum in the economy. We
:06:54. > :06:55.will have to wait and see. Ben. We will have to watch that. Thank you
:06:56. > :06:59.very much, Rico Hizon. Just how far have Volkswagen
:07:00. > :07:02.been able to recover back after The company has its first-quarter
:07:03. > :07:06.earnings due later today, and shares in the German car maker are up more
:07:07. > :07:10.than 50% from lows hit in October following revelations that it had
:07:11. > :07:12.cheated diesel emissions tests. Our ecomomics correspondent
:07:13. > :07:23.Andrew Walker reports. Has faults like an driven itself
:07:24. > :07:33.into financial trouble? -- Volkswagen. Results will give us an
:07:34. > :07:38.up select update after it admitted cheating in tests. They used to sit
:07:39. > :07:44.devices in diesel cars in the US that could detect when it was being
:07:45. > :07:51.tested and reduce emissions. -- defeat. They face a hefty bill and
:07:52. > :07:55.have to buy some cars back. There have been fines from regulators,
:07:56. > :08:00.especially in the West. And legal claims from shareholders. They have
:08:01. > :08:05.set aside $18 billion to cover those costs. Will it be enough? The annual
:08:06. > :08:10.report acknowledge is there are substantial risks in the legal
:08:11. > :08:15.cost. In other words, there could be more bad news to come for
:08:16. > :08:19.shareholders. The decisions made were enough to take the company into
:08:20. > :08:24.the red last year. The Chief Executive called the affair probably
:08:25. > :08:28.the greatest challenge in the history of the company. But they
:08:29. > :08:32.managed to increase sales revenue last year and has repaired some of
:08:33. > :08:40.the damage done to the sale price. Though it is still 16% worse off
:08:41. > :08:41.than it was before it broke. Andrew Walker, BBC News.
:08:42. > :08:58.A collection of Bitcoins worth about ?8 million, which had been
:08:59. > :09:01.confiscated by police in Australia, will be auctioned off in June.
:09:02. > :09:04.The 24,518 Bitcoins will be sold mostly in blocks of 2,000, each with
:09:05. > :09:08.Ernst Young, the firm organising the auction,
:09:09. > :09:10.said the Bitcoins had been "confiscated as proceeds of crime"
:09:11. > :09:14.Strong sales of the luxury brand Jaguar Land Rover
:09:15. > :09:17.India's biggest carmaker saw quarterly profit
:09:18. > :09:20.The company also benefitted from increased domestic demand
:09:21. > :09:24.But it announced that it plans to recall 100,000 JLR cars in the US to
:09:25. > :09:28.fix a fault with the airbags made by Japan's Takata, and has set
:09:29. > :09:42.Before leaving you, let's take a look at the markets.
:09:43. > :09:45.Asian shares recovered from a wobbly start on Tuesday, after
:09:46. > :09:46.Japan reported better-than-expected data for April.
:09:47. > :09:49.Shares in Japan were also lifted by expectations that a 2017 sales tax
:09:50. > :09:53.hike will be delayed until 2019, and by a weakening in the Japanese yen.
:09:54. > :09:57.US markets were closed on Monday, as was the London FTSE because