:00:00. > :00:00.The child was playing at the shore of a lagoon when he was dragged
:00:00. > :00:07.Those are the latest headlines from BBC World News.
:00:08. > :00:10.Now for the latest financial news with Sally and World Business
:00:11. > :00:18.Rebuilding bridges - Putin and Juncker to hold talks
:00:19. > :00:20.at Russia's economic forum, but is there any chance
:00:21. > :00:38.We look at Disney's $5 billion Shanghai gamble.
:00:39. > :00:47.Also in the programme: No action from the Bank of Japan.
:00:48. > :00:51.The yen soars in value hitting Japanese stocks hard.
:00:52. > :00:53.Our team in the region will have the latest.
:00:54. > :00:55.We start in Russia, where President Vladimir Putin
:00:56. > :00:58.is about to welcome business and political leaders from around
:00:59. > :01:03.the world for the St Petersburg Economic Forum.
:01:04. > :01:06.Perhaps the biggest meeting on his schedule today is with this
:01:07. > :01:10.man, European Commission President Jean Claude Juncker.
:01:11. > :01:13.It's the first visit to Russia by the EU chief since Europe imposed
:01:14. > :01:15.wide ranging sanctions two years ago over Russia's involvement
:01:16. > :01:21.The EU's sanctions put restrictions on investments,
:01:22. > :01:24.the energy sector and export of military hardware.
:01:25. > :01:25.While Russia's counter-measures have targeted Europe's
:01:26. > :01:32.Last year, trade continued to shrink dramatically
:01:33. > :01:38.Russian exports to the EU fell by more than $52 billion,
:01:39. > :01:45.But the EU has also been hit by Russia's retaliatory sanctions,
:01:46. > :01:47.particularly farmers, with exports dropping $32 billion
:01:48. > :01:56.The current EU sanctions come to an end next month,
:01:57. > :01:59.but they are widely expected to be renewed amid ongoing
:02:00. > :02:04.In a speech on Wednesday German Finance Minister Wolfgang Schaeuble
:02:05. > :02:13.argued the sanctions should stay in place.
:02:14. > :02:20.TRANSLATION: This is a nonnegotiable requirement for Russia. Let me
:02:21. > :02:23.reiterate that. There can be no return to normal relations if Russia
:02:24. > :02:31.behaves contrary to international law. Europe must uphold the lesson
:02:32. > :02:33.from its history, that international law is an indispensable tool for
:02:34. > :02:42.maintaining peace. For more analysis I'm
:02:43. > :02:44.joined by Chris Weafer, Senior Partner at Macro-Advisory,
:02:45. > :02:52.a Russia-Eurasia business It will be an interesting forum.
:02:53. > :02:56.There are quite a few international leaders there this time. That's
:02:57. > :03:04.right. The most interesting and important forum that we've had since
:03:05. > :03:09.pre-Crimea. There are a number of leaders, including the Italian Prime
:03:10. > :03:13.Minister. We are also hearing that there will be a larger number of
:03:14. > :03:16.senior executives from the US this time than we have had in the last
:03:17. > :03:21.couple of sessions. What does this tell us? Partly the message that we
:03:22. > :03:26.have heard from senior government officials is that Russia has
:03:27. > :03:30.survived through the crisis. The word resilience has been used a
:03:31. > :03:34.great deal. The economy has proved resilient in the face of sanctions.
:03:35. > :03:38.Remember the collapse in the oil price. We are expecting the economy
:03:39. > :03:43.to pull back in the second half of this year. That will be part of the
:03:44. > :03:46.message. The second message is that Russia is preparing for post-
:03:47. > :03:54.sanctions, is preparing to re-engage with Western leaders and to turn to
:03:55. > :03:58.a growth strategy. So that will be the two clear messages. The date for
:03:59. > :04:05.the lifting of sanctions is the 31st. Where are we with the conflict
:04:06. > :04:08.between the two regions? I think all the evidence points to the sanctions
:04:09. > :04:17.being fully rolled over at on July 31. The focus now is on what happens
:04:18. > :04:22.to thousands in the. -- in 2017. On the European side, the Russian
:04:23. > :04:29.position is that they believe they have done everything to advanced
:04:30. > :04:32.minx to. They say it isn't making progress because Kia isn't able to
:04:33. > :04:41.pass legislation which is a critical part. -- Kiev. So the message will
:04:42. > :04:47.be that they've done everything they can and they deserve sanctions
:04:48. > :04:51.relief next year. When we talk about sanctions, Crimea's sanctions will
:04:52. > :04:55.stay indefinite. Russia wants an easing of financial sanctions. That
:04:56. > :05:00.is important for the country to get back to where it was. Thank you for
:05:01. > :05:04.coming in. Any news we get out of St Petersburg we will update. We are
:05:05. > :05:06.also watching what's going on in Shanghai.
:05:07. > :05:08.Disney has just opened its first ever theme
:05:09. > :05:12.It has cost some $5.5 billion, and Disney boss Bob Iger has
:05:13. > :05:14.described the project as the biggest step
:05:15. > :05:27.It looks like Disney, with the castle in the centre. It feels like
:05:28. > :05:33.Disney, an escape from the real world. And it sounds like Disney.
:05:34. > :05:39.Welcome to Shanghai Disney! But this one is different. This time Mickey
:05:40. > :05:43.Mouse, Mi Lao Shu as he is known here, is Communist Party approved.
:05:44. > :05:50.This was the latest meeting between China's president and Disney's chief
:05:51. > :05:54.executive Bob Iger. The Communist Party chief has already been to
:05:55. > :05:59.three Disney parks, apparently. It has taken 17 years and 5.5 billion
:06:00. > :06:04.dollars now Bob Iger has his China park and it is ready for visitors.
:06:05. > :06:08.From the moment they enter everything they see and experience,
:06:09. > :06:12.the attractions, the food, the entertainment, down to the smallest
:06:13. > :06:14.level of detail, is instantly recognisable not only as
:06:15. > :06:20.authentically Disney but as distinctly Chinese. But it comes at
:06:21. > :06:26.a price, which he wouldn't discuss. In fact, Disney repeatedly refused
:06:27. > :06:32.to let us do a sitdown interview, so...
:06:33. > :06:38.For some of the 10,000 staff behind the scenes, a day at Disney is
:06:39. > :06:42.beyond their reach. For a couple with a child the cost would be more
:06:43. > :06:47.than the average monthly income in mainland China. This he is
:06:48. > :06:50.unapologetic about its high-end food prices. It is all part of the battle
:06:51. > :06:57.for China's growing richer middle class. Disney thinks it will tend to
:06:58. > :07:02.people with its authentic offering and there are lots to tempt. 330
:07:03. > :07:07.million within a few hours. So, is it the real thing? Disney has gone
:07:08. > :07:15.to great lengths to change for China! Some of the rides, like the
:07:16. > :07:20.rapids. Some are unique to Shanghai. At the radical difference is behind
:07:21. > :07:24.the scenes. This is a joint-venture. Disney is in business with firms
:07:25. > :07:28.owned by the Shanghai government. They get some of the profits and
:07:29. > :07:32.loss of influence. That is, to borrow the phrase, it is deeply
:07:33. > :07:36.Chinese arrangement in authentically Disney setting. -- in and
:07:37. > :07:47.authentically. Robin is apathy park. You are driver
:07:48. > :07:53.in our! That's good to see. -- at the park. Tell me about the
:07:54. > :07:57.interview with Bob Iger. This is a big deal for him. It was supposed to
:07:58. > :08:01.be his legacy, as he was due to leave Disney this year. That isn't
:08:02. > :08:07.happening as the man who was supposed to takeover left instead.
:08:08. > :08:12.It is 70 years since Bob Iger came here and surveyed the wasteland that
:08:13. > :08:17.is now this park. -- 17. He gave some interviews to some American
:08:18. > :08:21.networks and Chinese networks, but he wouldn't sit down with the BBC. I
:08:22. > :08:24.wanted to ask him about the project and politics because in China, where
:08:25. > :08:29.there is business and economics, there is always politics. Do we just
:08:30. > :08:34.asked him a couple of brief questions, one about how much it
:08:35. > :08:39.costs to come into the park. The other issue is about corruption.
:08:40. > :08:42.There's been no evidence corrupt practices here at the construction
:08:43. > :08:47.of this park corruption is a huge issue in China. The president has
:08:48. > :08:50.made it the top of his agenda and I wanted to address that with him.
:08:51. > :08:52.However, he did not want to engage. Interesting. Thank you. See you
:08:53. > :08:53.soon. Now, it's just a week until voters
:08:54. > :08:56.here in Britain decide whether the UK should remain
:08:57. > :09:00.in the European Union or leave. All this week we are hearing
:09:01. > :09:03.the views of small business owners Here's one who thinks he is far
:09:04. > :09:20.better off in than out. I1 of the owners of -- ARM one of
:09:21. > :09:24.the owners of this company that has been recycling textiles for 26
:09:25. > :09:31.years. Our main business partner is Britain. We have about 100 times
:09:32. > :09:38.daily. I hope Britain will stay in the EU. There are three main
:09:39. > :09:44.reasons. One of the reasons is the custom duties. Obviously if Britain
:09:45. > :09:50.leaves them custom duties might be imposed, which makes goods
:09:51. > :09:56.expensive. The other reason is our bureaucracies, which makes the
:09:57. > :10:01.procedure is longer. More expensive and difficult, sometimes impossible.
:10:02. > :10:07.The third is the currency fluctuation. No one knows what will
:10:08. > :10:10.happen, but if the pound gets stronger obviously the prices will
:10:11. > :10:15.be more expensive for us. Finally there is an even bigger problem. If
:10:16. > :10:20.Britain leaves them the whole EU may break up and that wouldn't be good
:10:21. > :10:24.for anyone. So that's one view. Plenty more on our website and
:10:25. > :10:29.interesting that both central banks that have been active in the past 24
:10:30. > :10:33.hours, the bank of Japan and the US Federal Reserve, have been talking
:10:34. > :10:37.about that decision which will be made next week about the UK and the
:10:38. > :10:41.EU referendum. Janet Yellen holding from taking interest rates in the
:10:42. > :10:47.US, citing a reason for the holding of was partly to do with the UK
:10:48. > :10:50.referendum and the consequences that could take place. Also in Japan the
:10:51. > :10:55.bank of Japan, no change to interest rate policy and no change to
:10:56. > :10:59.stimulus. The Japanese yen is soaring off the back about. It
:11:00. > :11:05.hasn't been strong since September, 2014. That's really hitting stocks
:11:06. > :11:09.and exported is in Japan in terms of how they have been trading. I want
:11:10. > :11:13.to show the US. Of course the Federal Reserve meeting took base.
:11:14. > :11:21.That's how Wall Street ended. -- took place. See you soon.
:11:22. > :11:24.Two of Britain's leading public health organisations are calling
:11:25. > :11:29.for the possession and personal use of all illegal drugs to be
:11:30. > :11:34.The Royal Society for Public Health and the Faculty of Public Health say