Browse content similar to 08/06/2016. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
Now for the latest financial news with Sally, | :00:00. | :00:00. | |
The final super Tuesday and Hillary Clinton claims victory | :00:00. | :00:19. | |
as the Democratic nominee, racing against Trump | :00:20. | :00:21. | |
to the White House, so what does this mean | :00:22. | :00:23. | |
And will shareholders take on Sir Martin Sorrell? | :00:24. | :00:32. | |
He is the boss of the worlds biggest ad firm, WPP, | :00:33. | :00:35. | |
Also in the programme: The World Bank slashes | :00:36. | :00:47. | |
Our team in Singapore will have the details. | :00:48. | :00:54. | |
She did it - Hillary Clinton has claimed victory | :00:55. | :00:59. | |
as the Democratic Party's presidential nominee. | :01:00. | :01:01. | |
As expected she saw a resounding win in the primary election | :01:02. | :01:03. | |
in the states of New Jersey and New Mexico, she becomes | :01:04. | :01:06. | |
the first female presidential nominee of any major political party | :01:07. | :01:09. | |
It pits her against Republican presidential candidate Donald Trump. | :01:10. | :01:13. | |
So what does it mean for the US economy? | :01:14. | :01:18. | |
Jacob Parakilas is assistant head of the US and the Americas Programme | :01:19. | :01:23. | |
at Chatham House, the Royal Institute for International Affairs | :01:24. | :01:25. | |
So, here are! We talked about this before and we assumed we might get | :01:26. | :01:41. | |
to this point, but we now have arrived. Give us your take on how | :01:42. | :01:47. | |
this will play out. It has been an interesting couple of news cycles. | :01:48. | :01:50. | |
There was the surprise announcement by the HP last night that they had | :01:51. | :01:55. | |
tallied up the super delegates and come to the conclusion that Clinton | :01:56. | :02:02. | |
had sealed the nomination. But Bernie Sanders said, hold on, we | :02:03. | :02:09. | |
want to wait until we are at the end. But the numbers seem pretty | :02:10. | :02:13. | |
clear that Hillary Clinton has a majority of pledged delegates, which | :02:14. | :02:20. | |
would make it impossible for Bernie Sanders to gain more delegates than | :02:21. | :02:28. | |
Hillary. She has made a big point of the fact that she is the first | :02:29. | :02:36. | |
female to reach this point, but others are quick to point out that | :02:37. | :02:39. | |
she would not necessarily be where she is but for the fact that she is | :02:40. | :02:52. | |
supported by super superdelegates, and drawing attention to how she is | :02:53. | :03:02. | |
funded, et cetera. She -- Bernie Sanders said, I am the only | :03:03. | :03:07. | |
antiestablishment candidate left, come over to my site. I don't know | :03:08. | :03:13. | |
that this will make much of the difference in the electorate. Most | :03:14. | :03:23. | |
Sanders supporters... Usually, if there is a left and a right wing | :03:24. | :03:29. | |
candidate, most of the supporters will stay on the side that they were | :03:30. | :03:37. | |
originally on. Trump and Sanders have a very thin level of policy | :03:38. | :03:46. | |
convergence. So, it is hard to see that making a real impact. It might | :03:47. | :03:52. | |
make an impact on the margins in a few States, but I don't think it | :03:53. | :03:57. | |
will be a major factor. I know I will speak to you again, there is | :03:58. | :04:00. | |
much to discuss between now and November. We will cover every twist | :04:01. | :04:02. | |
and turn. The World Bank has lowered | :04:03. | :04:05. | |
its forecast for the global economy, saying it will grow by just | :04:06. | :04:08. | |
2.4% this year instead That is quite a reduction, | :04:09. | :04:10. | |
so what has changed? Sharanjit Leyl is in | :04:11. | :04:14. | |
Singapore for us. A gloomy forecast, fill us in? When | :04:15. | :04:24. | |
I spoke to one of the authors of this global outlook, he essentially | :04:25. | :04:30. | |
said that the main reason for the revision was the slowdown in global | :04:31. | :04:34. | |
trade activity. Essentially, the bank warning that the world economy | :04:35. | :04:40. | |
is increasingly vulnerable to a sharp slowdown. Advanced economies | :04:41. | :04:47. | |
are struggling to Grove, and they have cut their forecast. | :04:48. | :04:54. | |
Essentially, the reason for all of this is commodity exporters | :04:55. | :04:56. | |
suffering, with some of the largest downward revisions. They pared their | :04:57. | :05:02. | |
projections for the US economy, the world's largest. They are saying the | :05:03. | :05:08. | |
slowing energy sector, the strong dollar, dismal global demand, all | :05:09. | :05:15. | |
culminating in a cut for growth expectations to 1.9% for the year. | :05:16. | :05:21. | |
They kept the forecast for China at 6.7%, which is really due to ageing | :05:22. | :05:27. | |
propelling output with more stimulus, but they are warning that | :05:28. | :05:31. | |
Beijing may have oblongs of financial risk that could trigger a | :05:32. | :05:37. | |
deep slide in growth. I don't think much of Japan's economy, which they | :05:38. | :05:41. | |
revised down by almost 1% for the year. | :05:42. | :05:43. | |
Executive pay is once again in the headlines as shareholders | :05:44. | :05:46. | |
seek to vent their frustration at bumper pay packets for CEOs. | :05:47. | :05:49. | |
Today it's the turn of Sir Martin Sorrell, | :05:50. | :05:51. | |
The Chief Executive of the world's largest advertising agency, | :05:52. | :05:53. | |
WPP to face investors at the firm's Annual General Meeting. | :05:54. | :05:55. | |
Mr Sorrell is the highest paid CEO in the FTSE 100 and is in line | :05:56. | :05:59. | |
for a total compensation package of around $102 million | :06:00. | :06:01. | |
With me is Dr Hans-Christoph Hirt, executive director and board member | :06:02. | :06:17. | |
It represents more than 40 pension funds, many of whom have WPP shares | :06:18. | :06:35. | |
in them. You are speaking at the AGM, what are you going to say? We | :06:36. | :06:40. | |
are going to express our gratefulness to Sir Martin for | :06:41. | :06:43. | |
creating a lot of value, and one of the greatest issues is his | :06:44. | :06:47. | |
succession planning, and the risk around his succession. We will also | :06:48. | :06:52. | |
talk about remuneration and that package, which we regard as | :06:53. | :06:56. | |
excessive. What do you think is a fair pay deal for him? I think that | :06:57. | :07:03. | |
is for the board to decide, and for the remuneration board to decide. | :07:04. | :07:11. | |
But they have decided, they have given him $102 million. Yes, but we | :07:12. | :07:17. | |
have concerns about the independence and effectiveness of the board. Is | :07:18. | :07:25. | |
it necessary to pay that amount to one person, does a motivate Sir | :07:26. | :07:34. | |
Martin. What are the people think we are working for, the beneficiary of | :07:35. | :07:39. | |
pension funds? There are a lot of concern throughout this passage. Is | :07:40. | :07:44. | |
very strong in arguing that he is worth it, that without him the | :07:45. | :07:47. | |
company would not be what it is today. At the same time, to put it | :07:48. | :07:56. | |
in perspective, he is getting around 100 million dollars. The next to | :07:57. | :08:04. | |
ours oil majors, and they are getting about $35 million, which is | :08:05. | :08:14. | |
a big difference. It is a big jump. And most of it is shares anyway, the | :08:15. | :08:21. | |
shares go up, so he gets more money. The question is how much is | :08:22. | :08:25. | |
necessary. Governance in the UK is very clear, company should not pay | :08:26. | :08:30. | |
more than is necessary, and they should ask if it really motivates | :08:31. | :08:34. | |
him. Next year his pay is likely to be smaller, does that mean he will | :08:35. | :08:39. | |
leave? It is unlikely from our perspective. These are the questions | :08:40. | :08:42. | |
the remuneration committee should be asking. Thank you for your time | :08:43. | :08:46. | |
today, we will also be watching that AGM closely. | :08:47. | :08:53. | |
Japan's growth rate for the first quarter of 2016 has been revised | :08:54. | :08:56. | |
Markets in Tokyo fell in early trading as the higher GDP figure | :08:57. | :09:00. | |
reduced the chance of further economic stimulus measures | :09:01. | :09:03. | |
Societe Generale says it will appeal against a scandalous decision | :09:04. | :09:06. | |
by a French tribunal, which ruled its dismissal | :09:07. | :09:08. | |
Ex-trader Jerome Kerviel made unauthorised transactions | :09:09. | :09:24. | |
The Paris tribunal ruled Jerome Kerviel's former employer | :09:25. | :09:28. | |
should also pay him half a million dollars in damages. | :09:29. | :09:42. | |
The good news about Japan does not help its buckets. The yen is a | :09:43. | :09:56. | |
little stronger, Brent Crude above $15 a barrel, which is interesting. | :09:57. | :10:09. | |
Police say they're hoping new developments in DNA profiling | :10:10. | :10:11. | |
will help catch the killer of a young woman in Bath. | :10:12. | :10:14. | |
Melanie Hall was last seen alive in a city nightclub 20 years | :10:15. | :10:18. |