:00:00. > :00:00.Now for the latest financial news with Sally,
:00:00. > :00:19.The final super Tuesday and Hillary Clinton claims victory
:00:20. > :00:21.as the Democratic nominee, racing against Trump
:00:22. > :00:23.to the White House, so what does this mean
:00:24. > :00:32.And will shareholders take on Sir Martin Sorrell?
:00:33. > :00:35.He is the boss of the worlds biggest ad firm, WPP,
:00:36. > :00:47.Also in the programme: The World Bank slashes
:00:48. > :00:54.Our team in Singapore will have the details.
:00:55. > :00:59.She did it - Hillary Clinton has claimed victory
:01:00. > :01:01.as the Democratic Party's presidential nominee.
:01:02. > :01:03.As expected she saw a resounding win in the primary election
:01:04. > :01:06.in the states of New Jersey and New Mexico, she becomes
:01:07. > :01:09.the first female presidential nominee of any major political party
:01:10. > :01:13.It pits her against Republican presidential candidate Donald Trump.
:01:14. > :01:18.So what does it mean for the US economy?
:01:19. > :01:23.Jacob Parakilas is assistant head of the US and the Americas Programme
:01:24. > :01:25.at Chatham House, the Royal Institute for International Affairs
:01:26. > :01:41.So, here are! We talked about this before and we assumed we might get
:01:42. > :01:47.to this point, but we now have arrived. Give us your take on how
:01:48. > :01:50.this will play out. It has been an interesting couple of news cycles.
:01:51. > :01:55.There was the surprise announcement by the HP last night that they had
:01:56. > :02:02.tallied up the super delegates and come to the conclusion that Clinton
:02:03. > :02:09.had sealed the nomination. But Bernie Sanders said, hold on, we
:02:10. > :02:13.want to wait until we are at the end. But the numbers seem pretty
:02:14. > :02:20.clear that Hillary Clinton has a majority of pledged delegates, which
:02:21. > :02:28.would make it impossible for Bernie Sanders to gain more delegates than
:02:29. > :02:36.Hillary. She has made a big point of the fact that she is the first
:02:37. > :02:39.female to reach this point, but others are quick to point out that
:02:40. > :02:52.she would not necessarily be where she is but for the fact that she is
:02:53. > :03:02.supported by super superdelegates, and drawing attention to how she is
:03:03. > :03:07.funded, et cetera. She -- Bernie Sanders said, I am the only
:03:08. > :03:13.antiestablishment candidate left, come over to my site. I don't know
:03:14. > :03:23.that this will make much of the difference in the electorate. Most
:03:24. > :03:29.Sanders supporters... Usually, if there is a left and a right wing
:03:30. > :03:37.candidate, most of the supporters will stay on the side that they were
:03:38. > :03:46.originally on. Trump and Sanders have a very thin level of policy
:03:47. > :03:52.convergence. So, it is hard to see that making a real impact. It might
:03:53. > :03:57.make an impact on the margins in a few States, but I don't think it
:03:58. > :04:00.will be a major factor. I know I will speak to you again, there is
:04:01. > :04:02.much to discuss between now and November. We will cover every twist
:04:03. > :04:05.and turn. The World Bank has lowered
:04:06. > :04:08.its forecast for the global economy, saying it will grow by just
:04:09. > :04:10.2.4% this year instead That is quite a reduction,
:04:11. > :04:14.so what has changed? Sharanjit Leyl is in
:04:15. > :04:24.Singapore for us. A gloomy forecast, fill us in? When
:04:25. > :04:30.I spoke to one of the authors of this global outlook, he essentially
:04:31. > :04:34.said that the main reason for the revision was the slowdown in global
:04:35. > :04:40.trade activity. Essentially, the bank warning that the world economy
:04:41. > :04:47.is increasingly vulnerable to a sharp slowdown. Advanced economies
:04:48. > :04:54.are struggling to Grove, and they have cut their forecast.
:04:55. > :04:56.Essentially, the reason for all of this is commodity exporters
:04:57. > :05:02.suffering, with some of the largest downward revisions. They pared their
:05:03. > :05:08.projections for the US economy, the world's largest. They are saying the
:05:09. > :05:15.slowing energy sector, the strong dollar, dismal global demand, all
:05:16. > :05:21.culminating in a cut for growth expectations to 1.9% for the year.
:05:22. > :05:27.They kept the forecast for China at 6.7%, which is really due to ageing
:05:28. > :05:31.propelling output with more stimulus, but they are warning that
:05:32. > :05:37.Beijing may have oblongs of financial risk that could trigger a
:05:38. > :05:41.deep slide in growth. I don't think much of Japan's economy, which they
:05:42. > :05:43.revised down by almost 1% for the year.
:05:44. > :05:46.Executive pay is once again in the headlines as shareholders
:05:47. > :05:49.seek to vent their frustration at bumper pay packets for CEOs.
:05:50. > :05:51.Today it's the turn of Sir Martin Sorrell,
:05:52. > :05:53.The Chief Executive of the world's largest advertising agency,
:05:54. > :05:55.WPP to face investors at the firm's Annual General Meeting.
:05:56. > :05:59.Mr Sorrell is the highest paid CEO in the FTSE 100 and is in line
:06:00. > :06:01.for a total compensation package of around $102 million
:06:02. > :06:17.With me is Dr Hans-Christoph Hirt, executive director and board member
:06:18. > :06:35.It represents more than 40 pension funds, many of whom have WPP shares
:06:36. > :06:40.in them. You are speaking at the AGM, what are you going to say? We
:06:41. > :06:43.are going to express our gratefulness to Sir Martin for
:06:44. > :06:47.creating a lot of value, and one of the greatest issues is his
:06:48. > :06:52.succession planning, and the risk around his succession. We will also
:06:53. > :06:56.talk about remuneration and that package, which we regard as
:06:57. > :07:03.excessive. What do you think is a fair pay deal for him? I think that
:07:04. > :07:11.is for the board to decide, and for the remuneration board to decide.
:07:12. > :07:17.But they have decided, they have given him $102 million. Yes, but we
:07:18. > :07:25.have concerns about the independence and effectiveness of the board. Is
:07:26. > :07:34.it necessary to pay that amount to one person, does a motivate Sir
:07:35. > :07:39.Martin. What are the people think we are working for, the beneficiary of
:07:40. > :07:44.pension funds? There are a lot of concern throughout this passage. Is
:07:45. > :07:47.very strong in arguing that he is worth it, that without him the
:07:48. > :07:56.company would not be what it is today. At the same time, to put it
:07:57. > :08:04.in perspective, he is getting around 100 million dollars. The next to
:08:05. > :08:14.ours oil majors, and they are getting about $35 million, which is
:08:15. > :08:21.a big difference. It is a big jump. And most of it is shares anyway, the
:08:22. > :08:25.shares go up, so he gets more money. The question is how much is
:08:26. > :08:30.necessary. Governance in the UK is very clear, company should not pay
:08:31. > :08:34.more than is necessary, and they should ask if it really motivates
:08:35. > :08:39.him. Next year his pay is likely to be smaller, does that mean he will
:08:40. > :08:42.leave? It is unlikely from our perspective. These are the questions
:08:43. > :08:46.the remuneration committee should be asking. Thank you for your time
:08:47. > :08:53.today, we will also be watching that AGM closely.
:08:54. > :08:56.Japan's growth rate for the first quarter of 2016 has been revised
:08:57. > :09:00.Markets in Tokyo fell in early trading as the higher GDP figure
:09:01. > :09:03.reduced the chance of further economic stimulus measures
:09:04. > :09:06.Societe Generale says it will appeal against a scandalous decision
:09:07. > :09:08.by a French tribunal, which ruled its dismissal
:09:09. > :09:24.Ex-trader Jerome Kerviel made unauthorised transactions
:09:25. > :09:28.The Paris tribunal ruled Jerome Kerviel's former employer
:09:29. > :09:42.should also pay him half a million dollars in damages.
:09:43. > :09:56.The good news about Japan does not help its buckets. The yen is a
:09:57. > :10:09.little stronger, Brent Crude above $15 a barrel, which is interesting.
:10:10. > :10:11.Police say they're hoping new developments in DNA profiling
:10:12. > :10:14.will help catch the killer of a young woman in Bath.
:10:15. > :10:18.Melanie Hall was last seen alive in a city nightclub 20 years